Leading Indicators
Posted By:Diana Olick of CNBC.com
Topics:CEOs and CFOs Carl Icahn Bill Gates Henry Paulson Real Estate
Companies:Pulte Homes Lennar Corp Centex Corp KB Home Realogy Corp Apollo Group Inc
Last week the Secretary of the Treasury, Hank Paulson, was asked if the residential real estate market had bottomed. He refused to answer the question. But as we approach the New Year, that is arguably the biggest question in real estate. The spring season is right around the corner, traditionally the busiest for buying and selling, and many believe it will tell the true story of the state of the market.
Until then, however, we look to the indicators: The NAHB/Wells Fargo Housing Market Index (HMI), out today, shows how builders perceive the market to be on an upswing, specifically in gauging future sales expectations.
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“Other recent indicators confirm that buying conditions have improved and that demand is stabilizing - including improvements in measures of housing affordability, strengthening consumer assessments of home buying conditions and an upswing in applications for mortgages to buy homes,” added NAHB Chief Economist Dave Seiders.
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