Here's our summary of articles and data points on the housing market. It's part of Seeking Alpha's coverage of the real estate market and homebuilder stocks. Like all other topics and stock coverage from Seeking Alpha, you can get this sent to your blackberry or desktop email by signing up for our no-spam free email subscription service.
Real Estate Sales and House Prices
- Exising Home Sales Continue To Slump (WSB in Seeking Alpha, Nov. 21st): "Existing home sales in the third quarter fell 12.7% from a year ago, with declines greatest in once-booming Nevada (-38%), Arizona (-36%), Florida (-34.2%) and California (-28.6%). 45 of 148 metropolitan areas surveyed also showed sales weakness."
- Home sales plunge in Dane County (Wisconsin State Journal, Nov. 21st) Dane County: "The south-central region's 15.1 percent decline in third- quarter sales was deeper than every area of the state except northern Wisconsin. In Dane County, existing home sales plunged 18 percent to 1,991, down from 2,427 during the same quarter last year… Dane County's decline in sales is unusual because the county continues to have low unemployment and strong job growth."
- Existing Home Sales And Prices Continue To Fall (Barry Ritholtz in Seeking Alpha, Nov. 20th): "The NAR also noted weakness in sales in 148 metropolitan areas... where the median -- or midpoint -- price for an existing home sold in the third quarter dipped to $224,900, down 1.2% from a year earlier. The reported median sale drop of 1.2% simply does not accurately reflect reality; I suspect it is being biased upwards by "trophy" property prices prices and other adjustments... Prices continue to drop rapidly and a lot more than the 1.2% the NAR is revealing due to what can be euphemistically described as "motivated" sellers."
