The Residential Real Estate Crash Index Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Crash Index

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: mishedlo who wrote (30151)	4/26/2005 4:11:40 PM
From: Elroy Jetson	Read Replies (3) of 306849

When looking at "Existing Home Sales" keep in mind that the way this data is reported was recently changed by David Lereah, Chief Economist for the National Association of Realtors. Previously, the NAR reported three categories of Existing Sales: Single Family; Condo; and Co-op. Effective April 1, 2005 these sales were consolidated into one single Existing Home Sales and the historical data has also been changed. Last month we heard about the change in "Existing (single-family) Home Sales" and this month we are hearing about the change in "Existing (single-family, condo, co-op) Home Sales". This is important. As you reach the end of a real estate bubble, "Existing Single Family Home" sales decline as few buyers can afford to buy, while the speculative activity moves to "Existing Condo/Co-op Home" sales which increase all the faster. If BMW previously sold 5 million luxury cars and now sold 5.5 million Mini-Coopers but no luxury cars - how well are they doing really? We need to look at total dollar sales - something which is not reported for "home" sales. .

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next