Existing-home Sales Up, New House Sales Lower

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As recently, news concerning the housing industry is really all around the map.

Nobody can tell what will happen next, and everything is really completely unpredictable.

Since everybody has virtually decided the truth that the marketplace is definitely slowing lower, required on everyone’s thoughts are whether we will see a noticable difference later on, or maybe we will see more slowing before things start to get again.

Well, all the data that’s arriving is making things much more confusing and hard to calculate.

The newest data shows us a number of mixed signals in regards to the health insurance and vitality in our nation’s housing industry.

The newest data arriving shows us both negative and positive news.

When it comes to great news, based on a significant trade association, sales of existing homes elevated recently.

When it comes to not so good news, new house sales slowed.

A Feb 28, 2007 article by RISMedia.com, “Existing-home sales improve in The month of january,” compares the latest figures which are arriving concerning our housing industry. “Sales of existing homes rose in The month of january, reaching the greatest level in seven several weeks, based on the National Association of Realtors┬«. Total existing-home sales-including single-family, town homes, condominiums and co-ops – elevated 3. percent to some seasonally adjusted annual rate1 of 6.46 million units in The month of january from your upwardly revised pace of 6.27 million in December. Sales were 4.3 % underneath the 6.75 million-unit level in The month of january 2006.”

Although there has been enhancements within the exiting home sales, that is certainly great news for that market, we should not get our hopes as much as high.

Situations are improving here, but there are more facets of the housing industry which are still declining.

And surprisingly enough, among the housing industry’s most influential figures is sighting the strange weather we’ve been since reason behind these unpredictable figures.

“David Lereah, NAR’s chief economist, stated observers should not overreact towards the sales gain, in order to other short-term effects. ‘Although we are expecting existing-home sales to progressively rise this season, and buyers are answering the cost correction, some abnormally the sunshine helped boost sales in The month of january,’ he stated. ‘On the switch side, the wintertime storms that disrupted a lot of the nation in Feb could negatively change up the housing industry.A”

Although a lot of housing markets were basically shut lower for some time in Feb because of the extreme whether conditions, things should continue to get shortly.

Can be what’s going to occur to our market later on.

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