Mar. Pending Home Sales:+4.1% to 101.4 vs. +1% expected; -0.5% prior.
Apr 26 2012, 10:00 ET
Mar. Pending Home Sales
to 101.4 vs. +1% expected; -0.5% prior.
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Housing bottom January 23 2012...per Radar Logic 25 composite
26 Apr 2012, 10:06 AM
Pending means nothing anymore..people have to pass the mortgage hurdle..and the appraisers have to value the properties..both hard to do..
26 Apr 2012, 10:09 AM
Those that think housing is going to remain perpetually moribund or face further significantly falling prices are going to be in error. We are on the verge of a significant turn, if for no other reason than the rental cost equivalance has now pushed above housing cost. Further reasons for this turn can be seen by the low for-sale inventory levels now evident in many markets, which will necessitate an uptick in the construction sector.
The major impediments to more rapid growth in sales are lender reluctance to make fixed-rate loans at today's rates and the low-balling by nervous appraisers, which jeopardize some financing. Otherwise, sales would escalate even faster. There is no present affordability issue, as relates to housing.
26 Apr 2012, 10:14 AM
so what...dip**** statistics that drive machines
26 Apr 2012, 02:37 PM
Housing can only reach a bottom if the FED keeps rates low. It will fall again if rates are ever normalized. I don't think the FED can really normalize rates back to the 5% level where mortgages would be 6-7% without causing the whole economy and banking system to crash again. That is the bigger dilemma that US economy faces.
26 Apr 2012, 03:33 PM
American in Paris
It is not a dilemma. You keep interest rates low until the economy accelerates to 3.5% to 4%. Right now the US economy is 2% to 2.5%.
Where is the problem?
26 Apr 2012, 06:32 PM
Does anyone know what the actual closing rate of pending home sales were for the last quarter?
2 May 2012, 12:19 PM
According to NAR, the growth rate in closings closely follows the growth rate in pending sales:
2 May 2012, 12:30 PM
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