Lereah’s headline on today’s National Association of Realtors (NAR) press release was "Existing Home Sales Improve in January." All the Bloomberg pundits this morning were celebrating a 3.5% increase in existing home sales. According to my version of Excel though, January’s sales number of 6.46 million is LESS than last January’s 6.75 million. The 3.5% [...]
Buying a new home is still easy enough even with a bubble in the real estate market and home ownership in America is at an all time high. The low mortgage rates and fast paced growth over the past couple of years has created a buyers market of sorts with dozens of new firms competing [...]
It’s Lereah Day.[1] Near the end of each month, NAR’s chief economist releases statistics on the previous month’s existing home sales. The Mainstream media avidly follows these numbers and Lereah’s (often hyper-optimistic) comments. The January analysis has just been released.[2]
MSM interpretations are coming in thick and fast. I’ve got a couple of links to these in the [...]