Quote:U.S. stocks rose Wednesday morning after a pair of encouraging reports about the housing market.

Home sales jumped to the highest level in more than two years in August, the National Association of Realtors reported. The trade group said sales rose 7.8 percent to a seasonally adjusted annual rate of 4.82 million, the most since May 2010.

Earlier, the government had reported that construction of new single-family homes in August also occurred at the fastest rate in more than two years. Construction of all new homes rose to a seasonally adjusted rate of 750,000.

http://www.huffingtonpost.com/huff-wires...ll-street/

Lotta mixed signals about housing. I remain skeptical this is authentic, and not some manipulation.

As far as housing goes, I think taking an average for the country is disingenuous. Some markets are hot (aka Wash DC) some are not (aka where I currently own).

this is indeed good news if it is correct.

You left out the part about how new construction is still well below what would be considered a healthy point.

(09-19-2012 09:35 AM)Redwingtom Wrote:  

Quote:U.S. stocks rose Wednesday morning after a pair of encouraging reports about the housing market.

Home sales jumped to the highest level in more than two years in August, the National Association of Realtors reported. The trade group said sales rose 7.8 percent to a seasonally adjusted annual rate of 4.82 million, the most since May 2010.

Earlier, the government had reported that construction of new single-family homes in August also occurred at the fastest rate in more than two years. Construction of all new homes rose to a seasonally adjusted rate of 750,000.

http://www.huffingtonpost.com/huff-wires...ll-street/

Right down the street from me they are currently expanding a senior single family home subdivision and are currently in the process of building several new homes so it doesn't surprise me.

(09-19-2012 09:37 AM)DrTorch Wrote:  Lotta mixed signals about housing. I remain skeptical this is authentic, and not some manipulation.

As far as housing goes, I think taking an average for the country is disingenuous. Some markets are hot (aka Wash DC) some are not (aka where I currently own).

Well, that is because nobody wants to live near you.

(09-19-2012 09:35 AM)Redwingtom Wrote:  

Quote:U.S. stocks rose Wednesday morning after a pair of encouraging reports about the housing market.

Home sales jumped to the highest level in more than two years in August, the National Association of Realtors reported. The trade group said sales rose 7.8 percent to a seasonally adjusted annual rate of 4.82 million, the most since May 2010.

Earlier, the government had reported that construction of new single-family homes in August also occurred at the fastest rate in more than two years. Construction of all new homes rose to a seasonally adjusted rate of 750,000.

http://www.huffingtonpost.com/huff-wires...ll-street/

You don't think QE3 has anything to do with this..........

It may be improving..but..it is still horrible. People still are not spending money.