Wave of Foreclosures Drives Prices Lower, Lures Buyers

Friday, May 23, 2008 | 02:45 PM

Hey, I thought that the glut of foreclosed homes had driven U.S. home prices down so much that buyers were jumping back into the market?

Didn't I read that somewhere?

Oh, that's right -- that was actually an erroneous front page article in the WSJ. It turned out the the February pop was just the ordinary seasonal pattern

Oops, sorry, my bad -- pardon the interruption . . .


Housing Prices Deflated

Prices_falling_2

Unsold Inventories Pile Up

Total_homes_for_sale_2

charts courtesy of Haver Analytics, Merrill Lynch


 


>




Previously:
Existing Home Sales, Non Seasonally Adjusted, Explained
  (March 2008)  http://bigpicture.typepad.com/comments/2008/03/existing-home-s.html

How Counter-Productive is Realtor Association Spin?   (March 2008)   http://bigpicture.typepad.com/comments/2008/03/how-counter-pro.html

Wave of Foreclosures Drives Prices Lower, Lures Buyers
Oversupply Triggers Lenders' Fast Sales; Mr. English Bids
JAMES R. HAGERTY and KRIS HUDSON
WSJ March 25, 2008; Page A1
http://online.wsj.com/article/SB120640573882561087.html

Friday, May 23, 2008 | 02:45 PM | Permalink | Comments (11) | TrackBack (0)
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Comments

No need to get sarky - reality will assert itself, WSJ articles or not.

Posted by: wally | May 23, 2008 2:54:53 PM

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