Permits and Housing Starts
May’s housing figures from the census bureau came out at 8:30 this morning. Mostly figures were WELL below last year’s estimates for the month and more or less in line with April’s estimates for May. Estimates continue to be more than 20% off of last year’s estimates (Click here for the report).
Scale of Economy Improves in MA
This week offers a couple of key reports for the industry, namely mass housing starts and permits.
I thought this bit of encouraging news from Joe Clements on Globe St. was nice to read. It seems though that every bid of good news in this vein lately has been delivered with a caveat. Time will tell.
BOSTON-The [...]
ECONOMISTS SEE HOUSING SLUMP LASTING LONGER
[As reported in the ABI Newsletter, 6/12/2007] Economists are giving up on the idea that the U.S. housing slump will be quick and relatively painless, concluding that the downturn that began nearly two years ago will last at least through the end of 2007 and remain a major drag on the U.S. economy, the Wall [...]
Traffic Sharply Below Expectations in May; Increased Pricing Pressure Likely
BofA Monthly Real Estate Agent Survey
Traffic Sharply Below Expectations in May; Increased Pricing Pressure Likely
Agents saw fewer buyers and increased hesitation in May. Traffic worsened further in May as agents indicated a lower than expected level of buyers and also noted that buyers have become very hesitant given the excess inventory of homes
for sale. Buyers [...]
