Are We Seeing Price Capitulation In Existing Home Sales In August 2011?

Econintersect review of the data shows volume up 21.3% year-over-year (4.2% month-over-month), while prices are down 4.0% year-over-year (0% month-over-month).

Home Sales Remain in Recession in July 2011

The bottom line here is that the data is on a whole a little worse than expected because of the price declines. Overall the existing homes market remains in a recession – and there are no signs yet of recovery.

Existing Home Sales In June 2011 Much Better than Headlines Suggest

Despite protests to the contrary by the NAR, existing home sales are moving in the patterns of past years where the government was not interfering in marketplace – namely 2007 and 2008. My argument is simple – this was a normal June, neither up or down from normal.

Mediocre Home Sales Continue in May 2011

If one has low expectations, any data will seem better. May 2011 existing homes sales continues its mediocre start to the 2011 buying season. The reality is that home sales in May 2011 is not as bad as it appears, and beginning in July 2011 – will not be as good as it will comparatively appear.