Login
Required Fields
Forget your password?
Log back into the website
Home Email Us Find An Agent Careers Please Login Register Me
Share
Look Know The Neighborhood
Find A Home Find New Construction Commercial Real Estate Neighborhoods View School Reports
Learn Understand The Process
Real Estate Blogs Mortgages Insurance Title Services Home Valuator
Live Make It Your Own
Make Over Remodeling Landscapes Live Green
Video Watch and Learn
Property Search
Find Your Dream Home
Better Homes and Gardens Nyack - The one stop shop for all your Nyack real estate needs
View All PostsSubscribe To This BlogEmail Blog

Housing Market Grew in January, Economy Grew 5.9% in the 4th Quarter
Published by Gregory Rand on Sunday February 28, 2010 4:23 PM
A bit of very good economic news came out this week. The 4th Quarter GDP numbers were revised to a 5.9% increase and January home sales were up 11.5%.

Unfortunately, most of the media chose to run with the story that home sales were down compared to December. I want to remind everyone that year-over-year analysis is the standard. Month-to-months is a new approach that is not indicative of the market's progress. We are definitely in a recovery. It doesn't happen overnight, but it is happenning.

Reader Comments
Click here to login and post comments
•re: Housing Market Grew in January, Economy Grew 5.9% in the 4th Quarter
Posted by Jon Paul Molfetta on Monday March 1, 2010 11:14 AM
I'm a firm believer in getting the good news out there, but at the same time, I don't want to mislead any of the sellers on the market. The numbers you're referencing are for one, isolated month, year to date. If you look at a broader picture, say the entire 4th quarter of 2009 vs. the 4th quarter of 2008, the average sales price for a single-family home was still down about 7% in Rockland. The substantial increase that has me excited is in the number of homes sold. Up 30%! If we continue that trend, prices are bound to stabilize at the very least. I hope your optimism propels the market for the rest of the year, but I think it's too soon to have sellers believing that they'll see more money for their home this year. What we can say with confidence is that there's a 30% greater chance that we'll sell it!!

•re: Housing Market Grew in January, Economy Grew 5.9% in the 4th Quarter
Posted by Rick S on Tuesday March 2, 2010 11:43 AM
What are you looking at? I went on the NYSAR site and Jan 10 vs. Jan 09 sales were a push. Jan 10 vs. Dec 09 was down 45%. Doesn't quite instill confidence. It is only a months worth of data. It will be interesting after the tax credits expire and the Fed stops keeping rates artificially low. That will be the true test.

•re: Housing Market Grew in January, Economy Grew 5.9% in the 4th Quarter
Posted by mike smith on Thursday March 4, 2010 7:24 PM
With all stimulus the Fed is putting into the housing market and pending sales are down over 10%, that's terrible. GDP at 5.9%? Where are the jobs?

Blame the media. They are the culprits. It is not the high unemployment. Or all those people that are under employed or just gave up looking. Or the fact that home prices are still too high relative income on a historical basis.


Leave a Comment
Click here to login and post comments.
 
Gregory Rand



Mortgages
Insurance
Commercial
Title Services
Rand Latino
Career Opportunities
Meet Our Team
Agent Extranet
Better Homes & Gardens Rand Realty, founded in 1984, is the No. 1 real estate brokerage in the Greater Hudson Valley with 20 offices serving Westchester, Rockland, Orange, Putnam, Dutchess, Ulster and Sullivan counties. Based on market share, Rand is the No. 3 real estate company in Westchester, No. 1 in Rockland and No. 1 in Orange. The company has more than 800 sales associates.

©2010Better Homes and Gardens® is a registered trademark of Meredith Corporation licensed to Better Homes and Gardens Real Estate LLC. Rand Realty is an independently owned and operated franchise of Better Homes and Gardens Real Estate LLC. All property information is deemed reliable but not guaranteed. Better Homes and Gardens Real Estate LLC is not affiliated with Rand Mortgage, Rand Commercial, or Hudson Abstract. It is illegal to discriminate against any person because of race, color, religion, sex, handicap, familial status, or national origin.