Posts Tagged ‘construction data’

Home sales surge. Time to party?

Home sales surge. Time to party?

By Barbara Kiviat, courtesy of TIME

The pace of existing-home sales was 10.1% higher in October than it was in September, according to figures out today from the National Association of Realtors (NAR). That jump puts sales back where they were in February 2007 and is sure to bring renewed optimism about the state of the housing market. In September we had an eight-month supply of houses sitting on the market. Now we’re down to a seven-month supply. That’s in the neighborhood of normal.

Realize, though, that a lot of the sales activity is still happening at the lower end of the market. Sales of properties costing less than $100,000 are up 18% from a year ago, and houses priced between $100,000 and $250,000 have seen a 30% surge in sales. Beyond that, sales dwindle. Homes in the $250,000-$500,000 range are up less than 8%, and sales of residences selling for $750,000 to $1 million have increased just 2% over the past year. Depending on where you stand, you may or may not be seeing a more-robust real estate market.

Two things have been driving sales at the low end. Thing one: first-time home buyers, who represent nearly half of all folks out there buying, according to a Campbell/Inside Mortgage Finance survey of 1,500 real-estate agents. Part of the October surge in sales surely had to do with the impending expiration of the  $8,000 first-time home buyers tax credit. That credit has since been extended into next year. Will sales drop off in coming months now that everyone knows they’ve got five more months to lock in those contracts? Very possibly.

That Campbell/Inside Mortgage survey points out something else interesting: that the Federal Housing Administration is guaranteeing about 60% of all first-time home-buyer loans. That’s not necessarily a bad situation if it helps to kick-start private lending, but having the Feds insure such a high percentage of mortgage finance isn’t exact a normal state of affairs, either.

The other low-end driver has been sales of distressed properties like foreclosures. Some 30% of October sales could be chalked up to such properties, according to NAR. There’s some notable movement there, too. NAR reports people starting to get into bidding wars over foreclosures, and Campbell/Inside Mortgage reports that investors are starting to pull back from


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The COVID Comeback

 

The COVID Comeback

Courtesy of Wade Slome, Investing Caffeine

Rocky Balboa (“The Italian Stallion”) the underdog boxer from the movie, Rocky, was down and out until he was given the opportunity to fight World Heavyweight Champion, Apollo Creed. Like the stock market during early 2020, Rocky was up against the ropes and got knocked down, but eventually he picked himself up and rebounded to victory in his rematch with Creed.

The stock market comeback also persisted last month as th...



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Biotech/COVID-19

Antibody injections could fight COVID-19 infections - an infectious disease expert explains the prospects

 

Antibody injections could fight COVID-19 infections – an infectious disease expert explains the prospects

Antibodies (pink) attacking a virus particle (blue). STEVEN MCDOWELL/SCIENCE PHOTO LIBRARY

Courtesy of Dimiter Stanchev Dimitrov, University of Pittsburgh

Antibodies are part of us – literally.

We have billions of them in our bodies with a combined weight of about 100 grams, or about the weight of a bar of soap. If there are so many antibodies inside our b...



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Zero Hedge

Chicago May Delay Reopening Because Of Riots: Virus Updates

Courtesy of ZeroHedge View original post here.

Summary:

  • Chicago may delay reopening
  • Florida reports jump of just 0,.4%
  • India now home to world's 7th biggest outbreak
  • Brazil passes 500k cases
  • Russia reports highest jump in new cases in weeks as easing begins
  • UK begins unwinding lockdown as daily deaths slow
  • Japan mulls plan to let some tourists back in

* * *

Update (1215E...



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ValueWalk

How Can We Address the Cybersecurity Skills Gap?

By Dale Strickland. Originally published at ValueWalk.

A 2019 report from Burning Glass noted a 94% growth in the number of cybersecurity job postings since 2013. Unfortunately, the available pool workers with the cybersecurity skills needed to fulfill these roles has risen in proportion, creating a significant gap. What can be done to increase the available pool of candidates?

Q1 2020 hedg...



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Chart School

Silver volume says something is near boiling point

Courtesy of Read the Ticker

Fundamentals are important, but they must show up in the chart. And when they do and if they may matter, it is a good sign if price and volume waves show a change of character.

The Point and Figure chart below is readtheticker.com version of PnF chart format, it is designed to highlight price and volume waves clearly (notice the Volume Hills chart).

Silver ETF volume is screaming at us! The price volatility along with volume tells us those who have not cared, are starting to, those who are wrong are adjusting, and those who are correct are loading up. Soon the kettle will blow and the price of silver will be over $20. 

Normally silver suffers in a recession, maybe this time with trillions of paper money being creat...

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Kimble Charting Solutions

Tech Indicator Suggesting A Historic Top Could Be Forming?

Courtesy of Chris Kimble

Tech stocks have been the clear leader of the stock market recovery rally, this year and since the lows back in 2007!

But within the ranks of leadership, and an important ratio may be sending a caution message to investors.

In today’s chart, we look at the ratio of large-cap tech stocks (the Nasdaq 100 Index) to the broader tech market (the Nasdaq Composite) on a “monthly” basis.

The large-cap concentrated Nasdaq 100 (only 100 stocks) has been the clear leader for several years versus the ...



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The Technical Traders

M2 Velocity Collapses - Could A Bottom In Capital Velocity Be Setting Up?

Courtesy of Technical Traders

M2 Velocity is the measurement of capital circulating within the economy.  The faster capital circulates within the economy, the more that capital is being deployed within the economy to create output and opportunities for economic growth.  When M2 Velocity contracts, capital is being deployed in investments or assets that prevent that capital from further circulation within the economy – thus preventing further output and opportunity growth features.

The decline in M2 Velocity over the past 10+ years has been dramatic and consistent with the dramatic new zero US Federal Reserve interest rates initiated since just after the 2008 credit crisis market colla...



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Lee's Free Thinking

US Southern States COVID19 Cases - Let's Give Credit Where Due

 

US Southern States COVID19 Cases – Let’s Give Credit Where Due

Courtesy of  

The number of new COVID 19 cases has been falling in the Northeast, but the South is not having the same experience. The number of new cases per day in each Southern state has been rangebound for the past month.

And that’s assuming that the numbers haven’t been manipulated. We know that in Georgia’s case at least, they have been. And there are suspicions about Florida as well, as the State now engages in a smear campaign against the fired employee who built its much praised COVID19 database and dashboar...



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Digital Currencies

Blockchains can trace foods from farm to plate, but the industry is still behind the curve

 

Blockchains can trace foods from farm to plate, but the industry is still behind the curve

App-etising? LDprod

Courtesy of Michael Rogerson, University of Bath and Glenn Parry, University of Surrey

Food supply chains were vulnerable long before the coronavirus pandemic. Recent scandals have ranged from modern slavery ...



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Members' Corner

Coronavirus, 'Plandemic' and the seven traits of conspiratorial thinking

 

Coronavirus, 'Plandemic' and the seven traits of conspiratorial thinking

No matter the details of the plot, conspiracy theories follow common patterns of thought. Ranta Images/iStock/Getty Images Plus

Courtesy of John Cook, George Mason University; Sander van der Linden, University of Cambridge; Stephan Lewandowsky...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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Promotions

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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

...

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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