{"id":443,"date":"2010-06-22T10:57:00","date_gmt":"2010-06-22T14:57:00","guid":{"rendered":"http:\/\/www.intuitiveinvestor.com\/web\/?p=443"},"modified":"2018-08-18T17:47:00","modified_gmt":"2018-08-18T21:47:00","slug":"existing-home-sales-decline-slightly","status":"publish","type":"post","link":"https:\/\/jasonapollovoss.com\/web\/2010\/06\/22\/existing-home-sales-decline-slightly\/","title":{"rendered":"Existing home sales decline slightly"},"content":{"rendered":"<p><span style=\"font-size: 16px;\">May&#8217;s existing home sales declined by 2.2% vs. April&#8217;s number.<\/span><\/p>\n<p><span style=\"font-size: 16px;\"><strong>Analysis:<\/strong> The primary reason for the decline is that a Federal Government tax credit for first time home buyers expired on April 30th.\u00a0 While some pundits may be worried about the health of the housing market, a 2.2% decline is really not much of a decline given that the first time home buyer credit was so large and beneficial.\u00a0 To me it&#8217;s a sign of increasing robustness in the housing market that even without the tax credit sales are basically even.<\/span><\/p>\n<p><span style=\"font-size: 16px;\">Additionally, the median price of a home in the U.S. was <strong>up<\/strong> year over year and to the tune of 2.7%.\u00a0 That makes the median home price $179,600.\u00a0 Clearly the real estate market is improving for prices to be up.\u00a0 Folks could only be upset by this number if they still had home price increase expectations circa that of 2004-2007.<\/span><\/p>\n<p><span style=\"font-size: 16px;\">I have said since the beginning of the blog that slow, steady and <em>real<\/em> economic growth out of the recession was needed.\u00a0 For far too long what counted as economic growth was really expansion driven by super easy money.\u00a0 In other words, the economic equivalent of increased consumer spending due to increasing\u00a0balances on credit cards.\u00a0 Not sustainable in the long-term and also not <em>real<\/em>.<\/span><\/p>\n<p><span style=\"font-size: 16px;\"><strong>Importance grade:<\/strong> 4\/8; the 4 is for the decline in the number of existing home sales, whereas the 8 is for the increase in the median home price.<\/span><\/p>\n<p><span style=\"font-size: 16px;\">Jason<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>May&#8217;s existing home sales declined by 2.2% vs. April&#8217;s number. Analysis: The primary reason for the decline is that a Federal Government tax credit for first time home buyers expired on April 30th.\u00a0 While some pundits may be worried about the health of the housing market, a 2.2% decline is really not much of a [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[3],"tags":[],"class_list":["post-443","post","type-post","status-publish","format-standard","hentry","category-the-blog"],"_links":{"self":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/posts\/443","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/comments?post=443"}],"version-history":[{"count":0,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/posts\/443\/revisions"}],"wp:attachment":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/media?parent=443"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/categories?post=443"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/tags?post=443"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}