On 8/24/2010, the government released the data on existing home sales.
Existing home sales fell 27.2%
Median home price rose .07% to $182.600
Previously owned homes on the market rose 2.5 % to 3.98 Million.
So what does all this mean?
There is a 12.5 month supply of unsold homes on the market, which this is the highest level since 1999. It has reached its highest rate since 1982.
If you are not sure if you are ready to buy into housing stocks here is a list and you can take a look at the charts and decide for yourself.
| Company | Sector | Industry | Country | Market Cap |
| AVTR | Avatar Holdings Inc. | Industrial Goods | Residential Construction | USA |
| BHS | Brookfield Homes Corp. | Industrial Goods | Residential Construction | USA |
| BZH | Beazer Homes USA Inc. | Industrial Goods | Residential Construction | USA |
| CHCI | Comstock Homebuilding Companies Inc. | Industrial Goods | Residential Construction | USA |
| DHI | DR Horton Inc. | Industrial Goods | Residential Construction | USA |
| GFA | Gafisa S.A. | Industrial Goods | Residential Construction | Brazil |
| HOV | Hovnanian Enterprises Inc. | Industrial Goods | Residential Construction | USA |
| KBH | KB Home | Industrial Goods | Residential Construction | USA |
| LEN | Lennar Corp. | Industrial Goods | Residential Construction | USA |
| MDC | MDC Holdings Inc. | Industrial Goods | Residential Construction | USA |
| MHO | M/I Homes, Inc. | Industrial Goods | Residential Construction | USA |
| MTH | Meritage Homes Corporation | Industrial Goods | Residential Construction | USA |
| NVR | NVR Inc. | Industrial Goods | Residential Construction | USA |
| PHM | PulteGroup, Inc. | Industrial Goods | Residential Construction | USA |
| RYL | Ryland Group Inc. | Industrial Goods | Residential Construction | USA |
| SPF | Standard Pacific Corp. | Industrial Goods | Residential Construction | USA |
| TOL | Toll Brothers Inc. | Industrial Goods | Residential Construction | USA |
| XIN | Xinyuan Real Estate Co., Ltd. | Industrial Goods | Residential Construction | China |
Earlier in the year the Government gave an incentive of up to $8000.00 to help boost sales. Once the incentive was gone then the housing sales also went down. The government is out there to help boost the economy.
Here is the question for you too think about is the Government helping too many sectors that is holding the economy back from a recovery?
2 comments
Kimberly
August 28, 2010 at 2:33 am (UTC 0)
Thanks for stopping by my blog. Your blog is really interesting. Lots of good information. Oh this topic hits home for us. We are going through a mess with our mortgage company. Unfortunately we know the truth that the government is helping the wrong people…they are bailing out the banks who are in return NOT helping people. This has contributed to the housing crisis. So yes I think they are too involved. I know it’s just my opinion…I’m not a big government fan.
~Kimberly
Sc0tt
August 29, 2010 at 8:12 pm (UTC 0)
Kim,
Thanks for the comment. I was just wondering how you found my blog?