If Good News is Recorded and Not Reported Did It Really Happen?
Best October Existing Home Sales since 2006
Strongest October New Construction Data since 2007
Impeachment Inquiry or Home Builder Sentiment. . First-time unemployment claims Foreign Interference of Consumer Confidence? Politically Correct Uno or Strong Existing Home Sales Data? Rumors or Remarkable New Home Construction data? Biden Baby or First-time Claims data?
(Nov. 18) This week we received two important pieces of the real estate jigsaw puzzle. We received the New Home Construction data and the Existing Home Sales data. This column produces a regular Real Estate Forecast Article that covers this data and the New Home sales data, data that will be released next week "Oct. Real Estate Forecast: Expansion Continues" projected that Starts and Completions would improve compared to last October. It also projected the possibility for strong October Existing Home Sales, dropping existing inventory, and the potential for a record October Average Sales Price.
(Nov. 19) The October New Construction data was remarkably good. "Oct. New Construction Building Momentum" details how we had our best October Starts, Units under Construction, and Completions data for the month of October since 2007. The Starts data was even better than October 2007. Oh, and Builder Sentiment for November was the highest since November 2004.
(Nov. 21) The Seasonally Adjusted Weekly Unemployment Claims Streak stretched to 245 consecutive weeks. The Weekly Claims Report was Ignored by Most. The SA FTU data recorded and reported a drop this week. Ho-Hum. Seasonally Adjusted Continuing claims remained under 2.0 million for the 135th straight week. Nada in the media. The Insured Unemployment Rate was the lowest for the second week of November ever at just 1.01%. Zip.
(Nov. 21) Someone might think that he most October Existing Home sales since October 2006 would garner major headlines. Someone might think that a new October Average Sales Price Record for Existing Homes would be promoted all day long."Strong October Existing Home Sales" looked at his data and the inventory data.
There was also consumer confidence data from the University of Michigan released. There was data regarding how consumers feel about their current financial situation (Best November Ever.) Consumer Sentiment rose month to month. So builder confidence is strong. Consumer Confidence is strong. New home construction continues to "beat expectations." Existing Home sales were really strong. The coverage of the data was very weak.
It's the Economy.
unity Copyright © Jack Dunn All rights reserved.