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-$0.33 (-0.76%)
06:46PM (15 mins delay)
Sep 25, 2009 - 6:39 AM EDT
Calafia Beach Pundit submits:
A modest downtick in existing homes sales in August (barely visible in the third chart above) was the reason that the market sold off today, according to a Bloomberg headline, but I think that's a stretch. As all three of these charts show, there has been a distinct turn for the better in the housing market.
The months' supply of unsold homes has dropped significantly, thanks mainly to a pickup in sales activity, and the vacancy rate of homes nationwide as dropped, although the rate is still among the highest ever recorded.
Source: Seeking Alpha (Sep 25, 2009 - 6:39 AM EDT)
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