3/19/12: Real Estate Flowers are Beginning to Bloom
Today, Bill Rayburn and Bob Dorsey talked about the recent feeling of serenity in the real estate market. Prices are down, treasuries and rates are up, sales are up — it feels like flowers are beginning to bloom, Bill said.
New housing data is blossoming this week, following Fannie Mae’s DU announcement and the AG settlement. The latest homebuilder confidence survey is out this week, and 700,000 housing starts should be announced for the past month, according to Bob. Existing home sales numbers are released on Wednesday and are expected to come in at 4.6 million. On Friday, new home sales should clock in at about 325,000.
Bill’s take: “My guess is growth is going to be very slow, but all the flowers are growing, and we’re here to provide the fertilizer.”