You gotta disbelieve

The title was going to be for a baseball post, but then I saw the latest stories on Pittsburgh region real estate prices. Baseball geeks can probably deduce what the baseball comment was going to be unfortunately.  For real estate we have something really odd continuing. The Trib’s headline is not the first, but may be . . . → Read More: You Gotta Disbelieve

Real estate stream of consciousness

So we statrt with the Trib: East Liberty Target counts on food shoppers.  Points for mentioning Mansmann’s department store.  How come nobody ever mentions any of the Autenreith’s that were all around town?

Which just makes me wonder… how many residential townhomes could you fit within the footprint of the Shakespeare St. Giant Eagle? . . . → Read More: Real estate stream of consciousness

Pittsburgh’s real estate moment?

In order to post something positive and to stick to the knitting, several positive economic notes out there. We’ll start with real estate.

I already mentioned the latest real estate data from realstats.  The PG headline was quite negative: Region home sales drop sharply.  Unless you are in the real estate biz itself, I . . . → Read More: Pittsburgh’s real estate moment?

What is the Real Estate Story?

Headline screams bad news:  Region home sales drop sharply

Yet this is the cut and paste quote from that article right now as I type:

“Average home prices rose 3.7 percent, from $138,907 last year to $151,556 last month, according to RealSTATs.”

I’m missing something in the math on that?  Later another quote is . . . → Read More: What is the Real Estate Story?

Despite Distractions, US Economic Recovery Gains Momentum

Recent distractions with economic uncertainty in Europe have turned many heads, but the strong U.S. economic recovery rolls on. Just about all new U.S. economic reports are now posting positive results. This past week was no exception.

A very strong month-to-month surge in new manufacturing orders and additional employment boosts highlighted another robust ISM . . . → Read More: Despite Distractions, US Economic Recovery Gains Momentum

Tax Credit A Strong Stimulant For Exisiting Home Buyers In April

Existing home sales soared in April as existing home buyers rushed to take advantage of the tax credit that expired at the end of the month.

On Monday, the National Association of Realtors reported that existing home sales jumped 7.6% last month to a seasonally adjusted annual rate of 5.77 million units, up from . . . → Read More: Tax Credit A Strong Stimulant For Exisiting Home Buyers In April

New Home Sales Jump Is Best Since 1963

New home sales jumped up in March at the fastest single-month rate since March 1963. The government report released on Friday said buyers gobbled up new houses ahead of the federal tax credit that is just about to expire.

New-home sales rose 26.9% to a seasonally adjusted annual rate of 411,000 in March, compared . . . → Read More: New Home Sales Jump Is Best Since 1963

Economic Events on April 23, 2010

At 8:30 AM EDT, the Durable Goods Orders report for March will be released.  The consensus is that there was a gain of 0.4% from February, which would be the fourth consecutive month of gains.

At 10:00 AM EDT, the new home sales report for March will be released.  The consensus is that 330,000 . . . → Read More: Economic Events on April 23, 2010

Economic Events on April 22, 2010

At 8:30 AM EDT, the U.S. government will release its weekly Jobless Claims report.  The consensus is that there were 440,000 new jobless claims last week, which would be slightly less than the higher than expected number reported last week.

Also at 8:30 AM EDT, the Producer Price Index for March will be released.  . . . → Read More: Economic Events on April 22, 2010

Economic Events on April 5, 2010

At 10:00 AM EDT,the value of the pending home sales index for February will be announced.  This index fell 7.6% in January despite attempts by the federal government to prop up the housing market, and February will probably be another weak month for existing home sales because the poor weather in that month.

Also . . . → Read More: Economic Events on April 5, 2010