Wednesday, August 16, 2006

Second quarter existing home sales

Well, the National Association of Realtors released their second quarter existing home sales numbers yesterday. 20 states showed increased activity year-to-year...I thought the news was generally good although the mainstream press all led with the fact that 28 states showed decreased activity from last year. Illinois' activity was down 4.7% from last year. No suprises, all the states with the big runups over recent years were down. Of the big states, Texas showed particular strength, up more than 11% from last year.

I'd be a buyer in this market as prices have stagnated and it appears that the Fed has stopped the interest rate tightening. A great buyer's market!

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