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Started By
Message
Home sales hit 8 month low. 13.3% decline since last March.
Posted on 4/23/14 at 10:50 am
Posted on 4/23/14 at 10:50 am
Forward though.
And higher costs in healthcare, thanks to Obamacare. They forgot that part.
LINK
quote:
(Reuters) - Sales of new U.S. single-family homes tumbled to their lowest level in eight months in March, dealing a setback to the housing market recovery.
The Commerce Department said on Wednesday sales dropped 14.5 percent to a seasonally adjusted annual rate of 384,000 units, declining for a second consecutive month.
Economists polled by Reuters had forecast new home sales at a 450,000-unit pace last month.
Compared to March last year, sales were down 13.3 percent, the largest year-on-year decline since April 2011.
quote:
The housing market has been slammed by an unusually cold and snowy winter, higher mortgage interest rates and a shortage of properties that is limiting options for potential buyers.
And higher costs in healthcare, thanks to Obamacare. They forgot that part.
LINK
6
Posted on 4/23/14 at 10:52 am to Alahunter
We need Cash for Casas !!!!!
This post was edited on 4/23/14 at 10:56 am
Posted on 4/23/14 at 10:52 am to Alahunter
Yet auto sales and retail are up.
I honestly wouldn't worry too much about housing. Sales seemed inflated in 2013.
I honestly wouldn't worry too much about housing. Sales seemed inflated in 2013.
Posted on 4/23/14 at 10:54 am to Alahunter
I was just talking to a colleague yesterday and he told me that they are having bidding wars over housing in Denver, CO.
Everyone is moving there for the Mary Jane law.
Everyone is moving there for the Mary Jane law.
Posted on 4/23/14 at 10:55 am to TigerPride10
quote:
I honestly wouldn't worry too much about housing. Sales seemed inflated in 2013.
Prices went up extremely fast after the crash. Housing seems overpriced right now (again) in a lot of places. Needs to correct in my opinion.
Posted on 4/23/14 at 11:02 am to Alahunter
Weather definitely was a factor, I believe you will see the multi-family sector lead housing starts this year by a long shot
Posted on 4/23/14 at 11:04 am to Alahunter
Massive number of empty homes nationwide. Banks are holding on to inventory so they don't flood the market. This according to my friend who's a foreclosure defense lawyer.
Posted on 4/23/14 at 11:07 am to Alahunter
quote:
The housing market has been slammed by an unusually cold and snowy winter, higher mortgage interest rates and a shortage of properties that is limiting options for potential buyers.
Yah it's the cold
Posted on 4/23/14 at 11:46 am to UncleFestersLegs
I'm buying a starter home in new orleans right now. So god damn nervous. First house. Got it for a good bit less than what they were asking in January for it.
I hope I don't get screwed
I hope I don't get screwed
Posted on 4/23/14 at 1:29 pm to Teddy Ruxpin
quote:
I hope I don't get screwed
How long do you plan on staying there?
Posted on 4/23/14 at 1:43 pm to Vegas Eddie
quote:
How long do you plan on staying there?
I'd imagine a decent amount of time. I bet we get pretty near 10 when its all said and done. Might even keep it and rent it out since its a good spot near the universities.
This post was edited on 4/23/14 at 1:45 pm
Posted on 4/23/14 at 2:25 pm to elposter
quote:
Housing seems overpriced right now (again) in a lot of places
I have seen houses that aren't even close to being worth what the asking price is. 1966 homes that have not been updated since the early 80's going for 75-80k in areas that don't justify those prices.
This post was edited on 4/23/14 at 2:26 pm
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