RE and economic charts: MBA: Mortgage Purchase Activity increases slightly + New Home Sales increased slightly, still near record low + Home Sales: Distressing Gap

Thursday, October 28, 2010

MBA: Mortgage Purchase Activity increases slightly + New Home Sales increased slightly, still near record low + Home Sales: Distressing Gap

[mEDITate-OR:
be distressed, and not even know why....

The 1st chart is unique to CR, and shows U.S. dramatically the huge gap between new and existing homes. As Jim @ CR points out to U.S. this gap also is costing U.S. jobs

The 2nd chart is also unique to CR, and shows U.S. dramatically how much new home sales have tanked. When you go to the CR site for the LARGE charts and see the others, you will see that builders have slashed their inventories and the months supply to try to stay alive. No more spec homes. No buyer, no build.

The 3rd chart is CR's take on mortgage apps. However, you should look at the Sold charts below to see how different REFIs are from new purchase apps. While sales apps have been mostly impacted by the buyers tax credits, REFIs have been affected most by the rates they can get.
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Distressing Gap