Still wondering whether the housing market has bottomed? Well, the next couple of days should offer some clues, as pending home sales numbers for April are due out later this morning, and home builders Hovnanian Enterprises Inc. (NYSE: HOV) and Toll Brothers Inc. (NYSE: TOL) will be releasing their quarterly results. While both are expected to have narrowed their losses, their revenues are expected to have shrunk by half, as well.
pending home sales posts
FeedHome builders expected to post narrower losses, declining revenue
Continue reading Home builders expected to post narrower losses, declining revenue
Pending home sales rise in December, according to NAR
The troubled housing market got a bit of good news today, as the National Association of Realtors stated that pending home sales rose during the month of December.According to today's report, pending home sales increased by 6.3% in December, coming off an all-time low that it set in November. The news comes as potential home buyers are starting to show interest in deeply-discounted homes.
Continue reading Pending home sales rise in December, according to NAR
U.S. pending home sales unchanged in January, better than expected
U.S. pending homes sales were flat in January 2008, the National Associations of Realtors announced Thursday, in a statement, with the association also forecasting a gradual housing sector recovery in the second half of 2008. Economists surveyed by Bloomberg News had forecast that January 2008 pending sales would fall 1%.
The Pending Home Sales Index, a forward-looking indicator based on contracts signed in January 2008, held at a stable level of 85.9, unchanged from December 2007, but was 19.6% below the January 2007 reading of 106.8, the NAR said.
Regional stats
By region, the January 2008 Pending Home Sales Index was as follows: Northeast, down 4.1%; South, down 6.1%; West, up 13.0%; and Midwest, up 0.6%.
Continue reading U.S. pending home sales unchanged in January, better than expected
Pending home sales fall 1.5% in December, signaling housing slump continues
Sales of previously-owned homes fell for the second consecutive month in December 2007, signaling that the nation's worst housing slump in more than 20 years is no where near recovery stage.The National Association of Realtors' index of signed purchase agreements decreased 1.5% to 85.9 in December 2007, the group said Thursday, in a statement. Economists had expected the index to fall about 1% in December. The index fell a revised 3% in November 2007, a downward revision.
Another sobering housing stat
Economist Glen Langan told BloggingStocks there's no way one can sugarcoat Thursday's housing sector statistic.
Continue reading Pending home sales fall 1.5% in December, signaling housing slump continues
Pending home sales plunge 2.6% in November
Sales contracts of previously-owned homes plunged -2.6% in November 2007, a stat that suggests the contraction in the housing sector will persist in the immediate months ahead.
The National Association of Realtors announced that the pending home index, which tabulates contracts signed for homes but not closed, fell 2.6% in November 2007. Economists had expected a 0.7% decline in November 2007. The index rose in September 2007 and October 2007.
Further, the index declined 19.2% during the previous 12 months. The index declined in 3 regions: -13% in the Northeast, -4.1% in the Midwest, -2.1% in the West, but increased +2.3% in the South.
The National Association of Realtors announced that the pending home index, which tabulates contracts signed for homes but not closed, fell 2.6% in November 2007. Economists had expected a 0.7% decline in November 2007. The index rose in September 2007 and October 2007.
Further, the index declined 19.2% during the previous 12 months. The index declined in 3 regions: -13% in the Northeast, -4.1% in the Midwest, -2.1% in the West, but increased +2.3% in the South.
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