SI
SI
discoversearch

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 : Mish's Global Economic Trend Analysis
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: LLCF who wrote (47456)2/28/2006 1:50:51 PM
From: mishedlo  Read Replies (1) of 116555
 
WASHINGTON (MarketWatch) -- Resales of U.S. homes fell 2.8% in January to a seasonally adjusted annualized rate of 6.56 million, the lowest in two years, the National Association of Realtors said Tuesday.
Sales are down 5.2% since January 2005. It's the fifth consecutive monthly decline.

The inventory of unsold homes on the market increased 2.4% to 2.91 million, a 5.3-month supply at the January sales pace. That supply is the largest since August 1998.

"Demand is dropping and supply is rising," said Joel Naroff, president of Naroff Economic Advisers. "It doesn't take a Ph.D. in economics to know what the implication of that is: It's Wal-Mart time - 'Watch out for falling prices!'"

Economists were expecting sales of about 6.65 million, according to a survey conducted by MarketWatch.
tinyurl.com
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News