have been less promising. The Associated Press reported home resale numbers rose 7 percent in November compared to the month before, but sales of new homes fell by 11 percent from October.
The Midwest was the only strong region of the housing market in the United States. New home sales in November, compared to October, fell by 21 percent in the South, 9 percent in the West and 3 percent in the Northeast. In the heart of the nation, however, the sales of new houses rose by 21 percent.
That’s nutty. Who cares what new home sales are?
There are only a couple hundred thousand new homes for sale in the U.S. and most of them don’t get an inspection anyway.
New home sales are but a drop in the bucket compared to existing home sales which are in the millions.
That’s true. Though it seems like every other day I read different numbers.
I actually run a housing sales index from here using inspector data and so can get these numbers well before the street does. Since the stock market is tied to housing, perhaps I should start publishing the index in the members-only section for those members who trade.