With long term rates falling, and short term rising, seems to me like a whole lot of money is looking for a place to stay for the long term. Does this have anyting to do with the 20% increase in M3 we've all been hearing about?
"...but was down 19.1 percent compared with the same week one year earlier."
How can it be "seasonally adjusted" to an increase of 9.9% but down 19.1% from the same week a year ago? What the heck kind of seasonal adjustment would result in that kind of discrepancy?
deb, I should have noted this is still a holiday week - so the numbers are heavily adjusted. Next week will be interesting.
Yesterday I spoke with one of the top local agents and he said the last 3 to 4 weeks were the slowest he has ever seen - but his phone is ringing again this week. So maybe things will pick up a little.
fwiw, dec was so slow that i thought i was going to die a quick painless death (tho i did sell a spec house in that month). but since the new year my phones have been ringing off the hook. open house traffic was hugely up and all the other agents in my office said that open house traffic was way up for them too.
my mortgage broker friend said that his phone has been ringing off the hook as well.
(for those of you that dont know i'm a broker/developer/builder in DC)
I am hoping things pick-up in the West like they are in DC. I had to take my place off the market after three months. I refinanced last week and will put it back on the market in a few weeks. Hopefully I wont have to pull a Britney Spears or a Tony Blair.
DoctorWho, yes, it is +9.9% Adjusted from the previous week compared to 27.2% unadjusted from the previous week. That is a huge adjustment probably because of the Holidays. I'm looking forward to next week's numbers because there will be no holiday adjustment.
The same caveat applies to the -19.1% YoY number - lets wait until after the holidays.
With long term rates falling, and short term rising, seems to me like a whole lot of money is looking for a place to stay for the long term. Does this have anyting to do with the 20% increase in M3 we've all been hearing about?
Remember, M3 doesn't count anymore!
"...but was down 19.1 percent compared with the same week one year earlier."
How can it be "seasonally adjusted" to an increase of 9.9% but down 19.1% from the same week a year ago? What the heck kind of seasonal adjustment would result in that kind of discrepancy?
Could the unseasonably good weather have something to do with this ?
deb, I should have noted this is still a holiday week - so the numbers are heavily adjusted. Next week will be interesting.
Yesterday I spoke with one of the top local agents and he said the last 3 to 4 weeks were the slowest he has ever seen - but his phone is ringing again this week. So maybe things will pick up a little.
Best to all.
fwiw, dec was so slow that i thought i was going to die a quick painless death (tho i did sell a spec house in that month). but since the new year my phones have been ringing off the hook. open house traffic was hugely up and all the other agents in my office said that open house traffic was way up for them too.
my mortgage broker friend said that his phone has been ringing off the hook as well.
(for those of you that dont know i'm a broker/developer/builder in DC)
I believe it is +9.9% vs. the previous week and -19.1% YoY, no?
I am hoping things pick-up in the West like they are in DC. I had to take my place off the market after three months. I refinanced last week and will put it back on the market in a few weeks. Hopefully I wont have to pull a Britney Spears or a Tony Blair.
At least in Northern NJ, open houses seemed slow last weekend. Although oddly enough I did hear of 2 sales in the last week of December.
DoctorWho, yes, it is +9.9% Adjusted from the previous week compared to 27.2% unadjusted from the previous week. That is a huge adjustment probably because of the Holidays. I'm looking forward to next week's numbers because there will be no holiday adjustment.
The same caveat applies to the -19.1% YoY number - lets wait until after the holidays.
Best to all.