(Image: Bloomberg)

 

BY DAVID EARL

 

The very latest indicator on the health of the U.S. housing market came out Wednesday and it’s not bad. But it’s not what economists expected, either. Here’s Bloomberg with the headline...

 

“The latest home sales figures crossing the wire for the month of February, less than expected slightly so FLASH When you look month-over-month we are seeing a slight decline.”

 

A very slight decline. The number is really flat from what was expected. The Street reports economists expected 4.6 million existing home sales.

 

“The National Association of Realtors (NAR) reported today that existing home sales fell 0.9 percent...but had climbed 8.8 percent higher than the 4.22 million figure reported a year ago.”

 

And Marketwatch says 2012 could shape up to be a big turnaround in the housing market.

 

“This could be an unusual year in which both rental space and homeownership demand will increase. That’s because of an increase in household formation — in other words, more people choosing to move out of a shared space with parents and roommates and into their own lodging.”

 

And The Wall Street Journal sees glimmers of hope for the housing market even with current construction numbers.

 

“When you get these bad numbers on construction, we should be celebrating, we should be saying, look, this means there’s less inventory, there’s more chance prices are actually going to recover.”

 

So the data shows the past two months have been the best for housing in the U.S. in past five years. But Wednesday on Capitol Hill, Treasury Secretary Tim Geithner had words of caution. Here’s CNBC with what the secretary had to say.

 

“Obviously, our economy is still suffering from a lot of collateral damage fallout from our crisis, you see that in housing, not just in high unemployment.”

 

Between the decent numbers and Geithner’s comments, the markets were mixed during Wednesday trading.

 

Housing Numbers Good, Not Great

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Mar 22, 2012

Housing Numbers Good, Not Great

(Image: Bloomberg)

 

BY DAVID EARL

 

The very latest indicator on the health of the U.S. housing market came out Wednesday and it’s not bad. But it’s not what economists expected, either. Here’s Bloomberg with the headline...

 

“The latest home sales figures crossing the wire for the month of February, less than expected slightly so FLASH When you look month-over-month we are seeing a slight decline.”

 

A very slight decline. The number is really flat from what was expected. The Street reports economists expected 4.6 million existing home sales.

 

“The National Association of Realtors (NAR) reported today that existing home sales fell 0.9 percent...but had climbed 8.8 percent higher than the 4.22 million figure reported a year ago.”

 

And Marketwatch says 2012 could shape up to be a big turnaround in the housing market.

 

“This could be an unusual year in which both rental space and homeownership demand will increase. That’s because of an increase in household formation — in other words, more people choosing to move out of a shared space with parents and roommates and into their own lodging.”

 

And The Wall Street Journal sees glimmers of hope for the housing market even with current construction numbers.

 

“When you get these bad numbers on construction, we should be celebrating, we should be saying, look, this means there’s less inventory, there’s more chance prices are actually going to recover.”

 

So the data shows the past two months have been the best for housing in the U.S. in past five years. But Wednesday on Capitol Hill, Treasury Secretary Tim Geithner had words of caution. Here’s CNBC with what the secretary had to say.

 

“Obviously, our economy is still suffering from a lot of collateral damage fallout from our crisis, you see that in housing, not just in high unemployment.”

 

Between the decent numbers and Geithner’s comments, the markets were mixed during Wednesday trading.

 

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