not see beyond the monthly numbers...
These charts by Jim@CR show U.S. how the years look.
What Jim is saying is that in spite of the problems with financing - with the 02-07 shift to non-agency securitization and back to the post 08 shift to 85+% FMae&FMac, the national level of home sales has remains surprisingly constant.
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The first graph shows existing home sales on an annual basis, and end of year inventory. For 2010, sales are estimated at 5.0 million units and year end inventory at 3.4 million units (currently 4.0 million in June, but inventory will decline seasonally).
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The second graph shows the same information normalized by the number of owner occupied units.
Existing Home Sales: Still above historical median
by CalculatedRisk on 7/23/2010 05:11:00 PM
It might be a little surprising, but existing home sales are still above the historical median level of the last 40 years as a percent of owner occupied units.
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