HousingData.MarketDate7.19.11

In a nutshell….

More foreclosures

Housing recovery will drag on for awhile…1-2 years?

Estimates for 2012 look good…Housing Starts will be up, Existing Home Sale predictions are up!

Inventory of New Homes for Sale is at an all-time low! Historical average is around 300,000 units, we have 167,000 for sale in this country. It was near 570,000 units at the end of 2006.

New Home Sales are in the toilet…lowest ever…The Good News? It can only go up from here.

Inventory of used homes for sale, still elevated near 4,000,000 for sale.

Months supply of New Homes, 6.2 months…was 12.

Existing Home Resales…Looking good at around a stable 5,000,000 units/year… the downside is that about 35% of those sales numbers are distressed properties.

Source: Wells Fargo Securities