Home Resales figure of 6.27 M for September will be weaker but the worst has passed for now
Joe Weinman
Oct. 22, 2006

The Sepetember home resales figure is expected to come out as 6.27 M from prior month’s 6.3 M. It will 0.47% lower than previous month.

It seems the sentiment indicators have turned so bearish that homes will rebound somewhat in the next nine months.

The data is due on October 25 at 10 AM. The realtors and home builders are throwing their towels. The real estate investors are running for cover. In TV so called finacial advisors are telling people to sell their home ‘now’. Theyb are also telling that home builders are selling 2 Million dollar homes for 1 Million dollars. These are signs of desperation.

In major bear markets, the counter trend bull rallies are fierce. Expect that for the next six to nine months. Real estate data will surprise all.

The best way to trade real estate is to look for so called Realtor sentiment indices. Realtors are normally wrong in their assessment of the trend because they are close to the market. They are quite correct on the very short term (week to a month) but they are always wrong for the long term. Using realtor sentiment index as the contrary indicator, it is possible to see the light at the end of the tunnel. The problem is that the long term trend in real estate is down.

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The Sepetember home resales figure is expected to come out as 6.27 M from prior month’s 6.3 M. It will 0.47% lower than previous month.
READ MORE>>

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