Video Update: Coldwell Banker CEO on the data… Market Mover Tuesday: Pending home sales surge 6.7% in April as foreclosures force price drops….

Seeking to double the new home buyer tax credit to 15k for a year….Via Bloomberg: Interview and discussion with Jim Gillespie the C.E.O. of the Coldwell Banker. He talks about the data point about the 6.7% pending home sales in the housing market. (Bloomberg News)


CNBC developing, Rickster just reported it…will get more up as it hits the presses..

we were weak to flat at opening and now up 50 on DOW off pending home sales data….but how can they rally when our economic bed is burning? deficit spending of this magnitude cannot end well….tsk tsk..

we are now positive on the year, MiM says it is the calm before the massive reality check….Bob Pisani points out people are buying off the CHinese recovery, agree, and who do the Chinese export to, Hmmmmmm? Ches! To us! So without real organic growth and job growth which we will not IMO get in this political environment, well it is a  fools game..or a traders game, LOl..

CNBC:

Pending sales of previously owned U.S. homes in April unexpectedly saw their biggest monthly gain in 7-1/2 years, a report from a trade group Tuesday showed, buttressing views the U.S. recession was easing.

The National Association of Realtors said its Pending Home Sales Index, based on contracts signed in April, rose 6.7 percent in April to 90.3 from 84.6 in March.

-snip-

The association’s senior economist, Lawrence Yun, credited improved home affordability and a new government program that provides an $8,000 tax credit for first-time homebuyers for the surge in buying activity.The NAR said its Housing Affordability Index, which blends factors like home prices and mortgage rates, was “in record territory” with 30-year mortgage rates hovering around 5 percent and an abundance of homes on the market.

June 2, 2009. Tags: , , , . Economy, Finance, Foreclosures, Housing, Music, Obama Administration.

One Comment

  1. Market Mover Tuesday: Pending home sales surge 6.7% in April as foreclosures force price drops…. replied:

    […] Original post by ginaswo […]

    Like

%d bloggers like this: