RE and economic charts: PE = New Home Sales: Oct + More Pain, Less Gain: S&P/Case-Shiller Preview for September 2011 + Sales of new US homes up 1.3 pct. in October

Monday, November 28, 2011

PE = New Home Sales: Oct + More Pain, Less Gain: S&P/Case-Shiller Preview for September 2011 + Sales of new US homes up 1.3 pct. in October - but median sales price hits 2011 low

[mEDITate-OR:
not see the "skinny story" about new home sales...
before you get to see the iceberg below the surface.
---------
these very different new stories try to give U.S. a different take on the basic numbers.
they do, but...
there is more to their and this story
- incoming
------------

STAGNANT SALES:

New-home sales rose slightly in October to a seasonally adjusted annual rate of 307,000, the Commerce Department said Monday. That’s less than half the 700,000 that economists say must be sold to sustain a healthy housing market.

WORST YEAR EVER?:

This year’s pace is trailing last year’s 323,000 homes sold, which were the fewest since the government began keeping records in 1963.

TROUBLING SIGNS:

The median sales price fell to its lowest level of the year, and the number of new homes for sale in the United States fell to a record low.

------