I came across these two headlines on cnn.com this morning that paint very different pictures of the current real estate market:
“New Home Sales up 5 Straight Months”
“Existing Home Sales Slide Unexpectedly”
Now certainly new homes and existing homes are two different animals, but what’s going on here…are we rebounding, sliding into the abyss or are these two factors cancelling each other out and we’re simply stagnating?
Its the great debate: bull v. bear.
Considering that the 8k tax credit is set to expire shortly, my vote is with the bears. Thoughts?