Banks selling more homes than builders
July 29th, 2010
From HousingIntelligence.com: In looking at the annualized share of all home sales captured by different types of transactions, there are a few interesting turning points that stand out. Back in 2005, your garden variety resale transaction accounted for more than 80% of all home sales. By November of 2006 that had slipped slightly to 78% while New Homes accounted for nearly 20% of all transactions (a peak share). Just over 2 years later in January of 2009, the new home share had slumped to 14%, and starting in that month there were more REO sales in the preceding 12 month period than new homes sold. So for the last year and a half, banks have sold more houses than home builders have.
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