Did a Home Builder Call the Housing Bottom?

August 8th, 2009 categories: For Buyers, For Sellers, Lake Tahoe Real Estate, National real estate news

Wall Street Journal onlineStablization. The Bottom. Recovery. Welcome back good words.

What’s important about this article in the Wall Street Journal is the question is even being asked. We didn’t see, much less hear words like stabilization or recovery- even a month ago. But now we’re hearing the phrase "market bottom", like its here, rather than something mythic… that every home buyer we know of is waiting for. (I’d be thinking of not waiting anymore, if I were them, before home prices become more firm and eventually start their march back up.)

The main point of interest that we found in this article is this: Kenneth Leon, a S&P analyst, thinks that we will look at the recent purchase by Pulte Homes of home builder Centex  as the market bottom.

The subtext of the article is that Las Vegas based Pulte Homes’ executives where savvy market rebound prognosticators when they made the bet to buy Centex for some $1.3 billion in stock. Since then  new home sales have been showing real signs of stabilizing, as buyers creep back into the market after almost three years of steady declines.

Again, what’s important here is the subject of market bottom as a reality is being discussed.

Article here.

 

Tags: , , , , , , , , , , , ,

This entry was posted on Saturday, August 8th, 2009 at 12:47 pm and is filed under For Buyers, For Sellers, Lake Tahoe Real Estate, National real estate news. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Leave a Reply

You must be logged in to post a comment.

Real Esate Tomato Chiclet