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August Sacramento Home Sales Data Support Stabilization Thesis
Reading Time: 2 minutesClick here for larger graphic The overall volume of home sales in the 8-county Sacramento region dropped about 16% from the year ago period while prices were firm month to month. The median sales prices of a home in Sacramento…
Fannie Mae’s Thin Margin
Reading Time: 3 minutes“The new capital will enable Fannie Mae to maintain a strong, conservative balance sheet….” – Fannie Mae 1st Quarter Earnings Release The Heard On The Street column in today’s WSJ, “Will $6 Billion Do For Fannie?” (subscription required), caught my attention. Fannie announced…
Target Lowers Sales Forecast, Lennar Reports An Ugly Quarter and Existing Home Sales Fall
Reading Time: 2 minutesThere’s a lot of news out this morning that has to make you a little uneasy if you’re a bull. Target (TGT) reduced its same store sales forecast for September from 4-6% to 1.5-2.5% (subscription required), raising questions about the…
Top Gun FP Client Note: Inklings Of A Housing Double Dip
Reading Time: 10 minutesIn the three weeks since the start of our third quarter on May 1st, which coincided with the expiration of the homebuyer tax credit, our per community deposits and traffic were up 23% and 11%, respectively, over last year’s comparable…
Homebuilders Buying Up Lots, Especially in Placer County
Reading Time: 2 minutesThere is a consensus out there that we are at the bottom or pretty darn close. – James Radler, a Roseville based land broker wtih Park Place Land Advisors of Irvine, CA They’re trying to position themselves without anybody knowing….
Same Story At KB Homes
Reading Time: 2 minutesThe new home market continues to be brutal as we saw yesterday with Lennar and today with KB Homes (KBH Earnings Release). I created the same chart for KB Homes of new home deliveries and backlog going back to 2003:…