Positive forces at work in housing market

The CEO of one of the nation’s largest homebuilders has a positive feeling, even though Hovnanian stock fell yesterday as reports showed mortgage applications dropped last week as interest rates rose.

When you look at the MLS data for many markets today you see two positive forces at work. First you see absolute sales numbers have picked up and second you see inventory levels have come down. In some markets you could almost make the case that the month’s supply has corrected too much. Believe it or not, by normal standards there is actually a shortage of homes based on the current sales pace in certain markets including some of the markets that were the most over supplied not long ago.

via Hovnanian Enterprises, Inc. F2Q09 (Qtr End 04/30/09) Earnings Call Transcript — Seeking Alpha.

You can get a good feel for housing market changes by following our Castles & Coves section on Iwanna.com.

Advertisements

0 Responses to “Positive forces at work in housing market”



  1. Leave a Comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s




Twitter Updates

Del.icio.us Bookmarks

Top Clicks

  • None

RSS Tip’d

  • An error has occurred; the feed is probably down. Try again later.
June 2009
M T W T F S S
« May   Jul »
1234567
891011121314
15161718192021
22232425262728
2930  

%d bloggers like this: