With so many fists beating on the housing-is-facing-ruin door, Altos Research is set to release data that claims all that pounding is in vain.
Conventional wisdom seems to suggest that recent housing data points to reasons for analysts to worry about the direction of the economy. A new report makes the case that the picture is much brighter then their consensus would lead one to think.
A real estate agent near California’s Silicon Valley seeks sellers by combing property records for people who’ve owned their houses for at least 40 years. A Denver-area broker offers half his commission for a listing, while a counterpart in South Florida hosts happy hour gatherings at bars to loosen up homeowners reluctant to sell. Read article
Sales of previously owned homes came in 18.6 percent higher last month when compared to August 2010, according to data released Wednesday by the National Association of Realtors (NAR). Completed transactions rose 7.7 percent on a month-over-month basis to a seasonally adjusted annual rate of 5.03 million, up from 4.67 million in July. Read article
While a number of closely-watched home price indices show national readings have slipped into a double-dip, Altos Research says it’s come and gone. The firm notes that the latest Case-Shiller findings declaring a new post-recession low are based on data through the end of March. Read article