I love the posts on this site. This posting has some very good 'big picture' graphs.
Posted on Oct 27th, 2006
David Andrew Taylor
I wrote something yesterday on how existing homes sales were showing signs of slowing, yet overall is a weak indicator. However, it does add to the overall picture in the housing market.
I got a comment from Jed, a commenter who's shown that he's got more than just a basic understanding of the economy. His comment was that, overall, the housing market was slowing down. Very true. He brought attention to seasonal adjustments that would in fact lower the overall existing homes sales picture. I've not actually seen the document he's referenced, but it made sense. I got the sense that if we were to seasonally adjust the data, the picture would look a little more bleak for existing homes sales. Again, however, I defer to my opinion on existing homes sales, that as the economy goes, it's not all the big of a deal what happens in this arena. I'm more concerned with construction spending and new homes purchases/builds.
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