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Market Updates from Trulia; what the stats say
Market Updates from Trulia: What the stats say I like catching up on where our market is at on Trulia’s website. They’re Chief Economist, Jed Kolko, is a good resource for where the market is going and why. Today’s article was particularly enlightening as it was the “Housing Barometer Charts”. I felt that many details in his report are applicable to many people in the industry of Real Estate. Within this report Trulia summarizes the three key housing market indicators: 1. New Construction starts 2. Existing Home Sales and 3. Delinquency plus Foreclosure Rate. For each category of these indicators, Trulia compares the month’s date to the previous numbers when they were at their worst and the pre bubble “normal” levels. Construction Starts: Brand new home starts have increased from 699,000 in March to 717,000 in April. Despite these brilliant numbers, the new home starts have only risen to 23% of the way back to their “normal”. Existing Home sales: We have seen an increase from 4.47 million to 4.62 million! This is the most encouraging news because home sales are almost halfway back to their normal levels from before the worst numbers in the bubble. The Delinquency plus ... more
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