We get New Home Sales today, along with the Case-Shiller Index.
Interesting article on a glimmer of good news in the related issue of Foreclosures and sales in the WSJ: Home Sales Rise in Hard-Hit Areas:
"Home sales are rising in some U.S. metropolitan areas where lenders have slashed prices on foreclosed properties.
Generally, home sales remain weak. The National Association of Realtors reported last week that sales of previously occupied homes in April were down about 18% from the already depressed year-earlier level.
But sales are up sharply in some of the areas hit hardest by foreclosures and falling prices. They include: Las Vegas; Sacramento, Calif.; Fort Myers, Fla.; and inner-city Detroit."
Worth a read . . .
Home Sales Rise in Hard-Hit Areas
Buyers Snatch Up Foreclosed Properties After Big Price Cuts
By JAMES R. HAGERTY
May 27, 2008; Page A3