The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: mishedlo who wrote (26315)	12/29/2004 1:22:59 PM
From: Elroy Jetson	Read Replies (1) of 306849

When we look at the numbers behind the headline, we see that Existing Home Sales for November declined by 3.5%. Applying David Lereah's patented "seasonal adjustment" the 3.5% decline becomes a 2.7% increase. realtor.org Until this year, there has been very little inventory remaining during the month of November. This November there has been a large number of homes available for sale, so we had more sales that we normally do during November. What I see locally is especially relavent as the West made the largest impact on the numbers. In the West a 5.1% decline in existing home sales became a seasonally adjusted 6.5% increase. The rapidly growing inventory of unsold existing homes turns out to be Bullish! David Lereah has outdone himself in spin this time. Almost everything turns out to be bullish now, Tsunami-Bullish, Falling Dollar-Bullish. As for new home sales declining while the inventory of unsold new homes continues to rise - well that speaks for itself doesn't it. .

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