Solarbird (solarbird) wrote,

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About that housing stat

Courtesy cow and The Mess that Greenspan Made, please enjoy this graph from a few days ago. The pale blue bars are the rising new home sales. There's also a rise in existing-home sales not shown on this graph - about 29,000 more month-to-month than June. The violet bars, however, are newly-entered foreclosures:
The rise in foreclosures is obviously much higher than the rise in new home sales, and eats a little under a third of the rise in existing-home sales. Given that you expect to see large spikes in sales in the summer months, it's worrying how much of that is being eaten by foreclosure retakes.
Tags: economics
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