Source: National Association of REALTORS
Link to Release:
http://www.realtor.org/press_room/news_releases/2009/12/another_respond
Analysis: The growth in existing home sales and shrinking supply is a positive sign for the US economy. Similar to Canada, each resale home transaction results in substantial spin-offs to other sectors of the economy related to housing (financial services, home improvement etc.). The combination of shrinking supply and increasing sales also bodes well for renewed home price growth moving through 2010, which will serve bolster US consumer confidence.
This is important, given that consumer spending accounts for over 70 per cent of US GDP and is also the driver of US trade with other countries like Canada.
I hope this finds you Happy and Healthy!
All the Best!
Mark
A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate
Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS Newsletter
RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987
( BUS 905-828-3434
2 FAX 905-828-2829 ÈCELL 416-520-1577
› E-MAIL : mailto:mark@mississauga4sale.com?subject=Mississauga
Website : Mississauga4Sale.com
- Thinking of selling your home in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
- Power of Sales and Foreclosures
- If you have not already signed up to receive my monthly real estate newsletter, you may do so here: On-Line Real Estate Newsletter sign up
- See seasonal housing patterns
- Would you like me to send you a 2010 Calendar?
US existing home sales are up as reported by the NAR? If you mine into the data you will discover that the increase is due to short sales and foreclosures!!! So much for slicing and dicing the data, as most economists and media pundits are doing, to make you believe that the bottom in US housing is in!!!!
ReplyDelete