Friday, September 2, 2011

So Many mixed signals- "Somewhere over the rainbow"?

It's hard to figure out what the housing market and moving business will see for the balance of this year, let alone 2012!  The disappointing jobs report today certainly indicates a stalled recovery in our segment.  The real estate market continues to show signs of weakness in the numbers of homes sold. 



Today's jobs report  indicates NO new jobs added in August.  Everyone was hoping to see at least 50,000 to 60,000 jobs added, and that would indicate a still weak economy.  But 0 jobs added what does that mean?

Pending home sales slipped by 1.3 % in July over last year.  We saw a little slow down in the end of July in new calls for moving in the last week of July and August was flat over last year for new initiated moves.  This was after a significant increase over last year through the middle of July for the year; particularly March through mid July. 

Existing home sales down 3.5% in July and up 21% on the year.  But, I heard that perhaps up to 40% of these are fore closers being sold.  That does not improve the number of newly initiated moves.

So its any one's guess. 


No comments:

Post a Comment