Below is a 1-year chart of the number of resale home sales (condos and single family) in a given month divided by that month’s NOTs and NODs, respectively. (I will provide a longer-term version when the DataQuick data hits the streets).
I noted the exact current and year-ago values so that you could get a more precise idea of just how much awful-er things are looking in the here and now.
Looking at this chart, it’s not going out on too much of a limb to guess that the housing market will fare worse in the latter half of 2007 than it did in the latter half of 2006.
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Sales and Foreclosures
Below is a 1-year chart of the number of resale home sales (condos and single family) in a given month divided by that month’s NOTs and NODs, respectively. (I will provide a longer-term version when the DataQuick data hits the streets).
I noted the exact current and year-ago values so that you could get a more precise idea of just how much awful-er things are looking in the here and now.
Looking at this chart, it’s not going out on too much of a limb to guess that the housing market will fare worse in the latter half of 2007 than it did in the latter half of 2006.