Wednesday, June 15, 2011

Some modest good news from the housing market


As the chart above shows, new applications for mortgages have increased about 14% in the past year. This is an encouraging sign that suggests new buyers are coming into the market as banks liquidate their housing inventories. Another encouraging (though still very preliminary) sign is the rise in housing prices since January, according to the folks at Radar Logic (chart below).

6 comments:

brodero said...

The rise in the Radar logic is important in that there are no tax incentives to rendered the data
questionable. Real markets,,,Real prices....

Beatotrader said...
This comment has been removed by the author.
Beatotrader said...

the NAHB in not of the same advice...;-)

brodero said...

NAHB...is new homes ( more inventory which we don't need)...
Radar Logic is existing homes which
we need to sell

Beatotrader said...

Yes, but in any case is an important professional opinion directly from real estate world...

New Home are the true "plus" for the economy
existing home are above all the same money that change hand or little more...

Like you say, the real problem is the big inventory, heritage of the Big Real Estate Bubble made in USA
But it is not the only problem of US real estate: you have many many many other problems

The Real Estate is the mirror of the structural problems those affects the US Economy&Finance
Problems those nobody in charge had the interest to resolve at the roots...

Rick said...

The Radar Logic data is more than 60 days old. It tells us nothing about the current state of the real estate market.