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| What The Media About September's New Home Sales Report Posted: 29 Oct 2009 07:45 AM PDT
Today is one of those days. After the September New Home Sales report showed sales volume down from August, the mainstream media jumped on the story:
But the headlines miss the point, somewhat. Yes, home sales volume is important to housing, but it's not as important as home supply. A deeper look at the New Home Sales data reveals an interesting comparison point:
In other words, sales outpaced supply -- a running theme this year and a positive signal for housing. Since peaking in January 2009, the supply of newly-built homes has now dropped by 40 percent. The average sale price is up 15% over the same period. This is why you can't get your real estate news from the headlines. You have to dig a little bit deeper to get the real story. September's New Home Sales report was plenty strong. The housing market recovery continues.  |
Some days, newspaper headlines are a terrible place to get your real estate news. | You are subscribed to email updates from Atlanta Real Estate -- Peter Bright, Mortgage Blogger To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
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