Northern Virginia Bits Bucket 7/31/2009

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S&P/Case-Shiller® May Home-Price Index

The S&P/Case Shiller® composite index (graph here) for the month of May was released Tuesday.

"After 16 consecutive months of record annual declines, beginning in October 2007 and ending in January 2009, the indices have now shown four consecutive months of improvement in annual returns. . . . 'The pace of descent in home price values appears to be slowing' says David M. Blitzer, Chairman of the Index Committee at Standard & Poor’s. 'There is a clear inflection point in the year-over-year data, due to four consecutive months of improved rates of return, after the steep decline that began in the fall of 2005. . . . While many indicators are showing signs of life in the U.S. housing market, we should remember that on a year-over-year basis home prices are still down about 17% on average across all metro areas, so we likely do have a way to go before we see sustained home price appreciation.' Mr. Blitzer added.”

Northern Virginia Bits Bucket 7/30/2009

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Northern Virginia Bits Bucket 7/29/2009

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Northern Virginia Bits Bucket 7/28/2009

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Northern Virginia Bits Bucket 7/27/2009

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News Thread

From Calculated Risk Sunday night:

"This will be a very busy week for economic news, and some of the key data will be new home sales for June released on Monday, the Case-Shiller home price index for May released on Tuesday, and Q2 GDP from the BEA on Friday".

Northern Virginia Weekend Bits Bucket 7/25-7/26, 2009

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Northern Virginia Bits Bucket 7/24/2009

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Northern Virginia Bits Bucket 7/23/2009

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Northern Virginia Bits Bucket 7/22/2009

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Northern Virginia Bits Bucket 7/21/2009

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Current Housing Inventory

These inventory numbers were extrapolated from VirginiaMLS.com. The total "Northern Virginia Inventory" represents the combined housing inventory (that's listed on the MLS) of Alexandria City, Arlington County, Fairfax City, Fairfax County, Falls Church City, Loudoun County, Manassas City, Manassas Park City, and Prince William County.

Total inventory is at its lowest point since July-August, 2005.



(Here's the spreadsheet on a separate page).

Northern Virginia Bits Bucket 7/20/2009

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Northern Virginia Weekend Bits Bucket 7/18-7/19, 2009

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Northern Virginia Bits Bucket 7/17/2009

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Northern Virginia Bits Bucket 7/16/2009

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Northern Virginia Bits Bucket 7/15/2009

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Northern Virginia Bits Bucket 7/14/2009

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Northern Virginia Bits Bucket 7/13/2009

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Northern Virginia Weekend Bits Bucket 7/11-7/12, 2009

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Northern Virginia June Housing Sales

Source: MRIS

Northern Virginia Bits Bucket 7/10/2009

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Roubini Tells Us How He Really Feels

This reminds me of looking at a pasture and seeing dark green patches in the field that were once cow flops.

Brown Manure, Not Green Shoots

"In the stress tests, the average unemployment rate next year was assumed to be 10.3% in the most adverse scenario. We'll be already at 10.3% by the fall or the winter of this year, and certainly well above that and close to 11% at some point next year."
. . .
"Also, concerns about unsustainable budget deficits are high and are going to remain high, with growth anemic and unemployment rising. These deficits are already pushing long-term interest rates higher as investors worry about medium- to long-term stability. If these budget deficits are going to continue to be monetized, eventually, toward the end of next year, you are going to have a sharp increase in expected inflation--after three years of deflationary pressures--that's going to push interest rates even higher".

Northern Virginia Bits Bucket 7/9/2009

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June sales data will be out tomorrow at MRIS.

NVAR has June 2009 statistics available. Check the first comment of this post to see CRT's compliation of year-over-year price trends for the last 30 months in Northern Virginia.

Northern Virginia Bits Bucket 7/8/2009

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Northern Virginia Bits Bucket 7/7/2009

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Northern Virginia Bits Bucket 7/6/2009

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June Market Data

I received this June newsletter from the Lohr team at Long and Foster. There are some stories about what's going on locally with appraisals, short sales, and home sales trends.

Northern Virginia Weekend Bits Bucket 7/4-7/5, 2009

Happy Independence Day!

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Northern Virginia Bits Bucket 7/3/2009

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Northern Virginia Bits Bucket 7/2/2009

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Northern Virginia Bits Bucket 7/1/2009

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