Unexpected jump in home sales in Feb

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	Unexpected jump in home sales in Feb

masbury

3-23-2009 2:59 PM

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tags:

housing, economy

masbury says:

Suggest some areas may have hit bottom and are beginning to return

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/829164c8-81e7-4c9c-a044-876a72e8b407/1E3100F6-0F43-4589-9EE3-0507B2D13B68/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.nytimes.com/2009/03/24/business/24econ.html?_r=1&partner=rss&emc=rss#" href="http://www.nytimes.com/2009/03/24/business/24econ.html?_r=1&partner=rss&emc=rss#" style="font-size: 11px;">www.nytimes.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/03/24/business/24econ.html?_r=1&partner=rss&emc=rss#"><NYT_HEADLINE type=" " version="1.0">
Unexpected Jump in Home Sales in February
</NYT_HEADLINE></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/03/24/business/24econ.html?_r=1&partner=rss&emc=rss#"><P>Sales of previously owned homes in the United States showed unexpected strength in February, offering a glimmer that the tumbling housing market may be searching for a bottom even as economists brace for  another  wave of foreclosures driven by rising job losses.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/03/24/business/24econ.html?_r=1&partner=rss&emc=rss#"><P>“We are close to seeing a bottom in both new and existing home sales,” Michael T. Darda, chief economist at MKM Partners, wrote in a note to clients.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/03/24/business/24econ.html?_r=1&partner=rss&emc=rss#"><P>Economists and real-estate experts said the worst-hit parts of the country looked like they were starting to emerge from the wreckage of the housing bust and a tide of foreclosures. Other markets like New York or Washington,  where prices have not tumbled so starkly, will probably  face more stagnant sales and sliding prices in the months ahead.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/03/24/business/24econ.html?_r=1&partner=rss&emc=rss#">In the West, where home prices have dropped 30 percent from last February, homes sales rose  30 percent last month from a year earlier</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/03/24/business/24econ.html?_r=1&partner=rss&emc=rss#">In the Northeast</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/03/24/business/24econ.html?_r=1&partner=rss&emc=rss#">prices</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/03/24/business/24econ.html?_r=1&partner=rss&emc=rss#">dropped 4.8 percent</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/03/24/business/24econ.html?_r=1&partner=rss&emc=rss#">sales are down 15 percent</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/1E3100F6-0F43-4589-9EE3-0507B2D13B68/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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