Saturday, September 02, 2006

Housing Stats

The difference a year makes.

Recent data quantify the housing cool-down (year-over-year changes).

Builders' sentiment -52.2%

New-home sales -21.6%

Purchase-mortgage applications -20.9%

Building permits -20.8%

Housing starts -13.3%

Existing-home sales -11.2%

Existing-home inventories +39.9%

New-home inventories +22.4%

"What about the slide in housing?" The housing situation doesn't look good to me, and maybe that's why we seeing the non-confirmation in the stock Averages. But the banks are holding up, Fannie Mae and Freddie Mac have been rallying, and you'd think if we were on the edge of a housing crisis, they'd be heading south, not north.


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