Oct
22
Kristin Gabriel asked:
There has been a lot of recent news about new home sales jumping from 16 percent in April, the biggest percentage increase since 1993. Despite this positive news, sales and construction activity may not have hit rock bottom yet.
In May 2007, the U.S. Census Bureau reported that new single-family home sales rose from a seasonally adjusted annual rate of 844,000 in March to 981,000 in April. This shows that April sales were off by 10.6 percent since April 2006.
Dogtor Paco’s Lender’s Corner (www.dogtorpaco.com) believes this data indicates perhaps this cycle will be a dip rather than a wave, because the information on prices flew around the market via the Internet. People immediately adjusted their behavior and they’re doing so again.
Now people watching the correct indicators will be waiting for the inventory to bottom out. Inventory disappears once the average time on listing goes higher than about 60-70 days. When inventory disappears, any houses that come on a healthy market disappear fast, taking down the average listing time and making people put inventory back on the market at increased prices.
Those interested can keep track of the housing market by using Dogtor Paco’s mortgage payment calculator to check out the prices for home loans. Visit www.dogtorpaco.com
BRADFORD
There has been a lot of recent news about new home sales jumping from 16 percent in April, the biggest percentage increase since 1993. Despite this positive news, sales and construction activity may not have hit rock bottom yet.
In May 2007, the U.S. Census Bureau reported that new single-family home sales rose from a seasonally adjusted annual rate of 844,000 in March to 981,000 in April. This shows that April sales were off by 10.6 percent since April 2006.
Dogtor Paco’s Lender’s Corner (www.dogtorpaco.com) believes this data indicates perhaps this cycle will be a dip rather than a wave, because the information on prices flew around the market via the Internet. People immediately adjusted their behavior and they’re doing so again.
Now people watching the correct indicators will be waiting for the inventory to bottom out. Inventory disappears once the average time on listing goes higher than about 60-70 days. When inventory disappears, any houses that come on a healthy market disappear fast, taking down the average listing time and making people put inventory back on the market at increased prices.
Those interested can keep track of the housing market by using Dogtor Paco’s mortgage payment calculator to check out the prices for home loans. Visit www.dogtorpaco.com
BRADFORD
Comments
Leave a Reply