BuzzBuzzHome Corp.
February 22, 2010

Leading up to an episode of LOST, I start to feel the anxiety set in. I get excited that answers may be revealed and there will be some great revelations.

Today I feel the same way about the US housing market. In the next week there will be a slew of new figures and stats coming out, giving us some indication if the US housing market is finally off life-support.

What to look out for:

Tuesday February 22, 2010: the S&P Case-Shiller index, which is a key measure of house prices across 20 major U.S. cities. This amazing index is considered to be more accurate than any Canadian home price index. It chronicled the decline in the value of U.S. properties in the early months of the recession. A turnaround in the month-to-month numbers finally took hold last summer, but stalled in November. What to expect? December’s figures aren’t supposed to be great, since numbers on delinquent mortgages and foreclosed properties in the United States have shown only slight improvements so far.

Wednesday February 23, 2010: New home sales time! Our favourite set of stats. Expectations? New home sales will grow, after a December drop.

Friday February 24, 2010: Existing-home sales numbers time!! Expectations? Likely to show improvement, thanks to an extension of a tax credit for first-time home buyers.

Of course, the US still needs unemployment to improve and foreclosures to cool before we see any real gains in the US housing market.

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