Residential Real Estate Remains Weak

Residential real estate, despite spin's best efforts to sell manure as flowers, remains a train wreck in progress. Building permits, which are difficult to nudge and fudge, started to roll-over in June 2010. The most recent data illustrates an acceleration of the downside trend.

Building Permits And Change YOY


Headline: US Stocks Tack On Small Gains Following GDP, Housing Data

Separate data showed demand for used homes increased by 5.6% to a seasonally adjusted annual rate of 4.68 million, the National Association of Realtors said. The increase was smaller than the 6.5% rise that economists had predicted.

However, the price for an existing home edged up for the first time since August, to $170,600 in November. That's up 0.4% from the year-ago median price of $170,000 and an improvement from a downwardly revised $170,400 in October.

Source: online.wsj.com