Current Housing Indicators |
| CURRENT | PREVIOUS | ||
| Existing Home Sales | 4.49m | ▼ | 4.74m |
| New Home Sales | 309,000 | ▼ | 344,000 |
| Housing Starts | 583,000 | ▲ | 477,000 |
| Building Permits | 547,000 | ▲ | 531,000 |
| HMI | 9 | UNCH | 9 |
| Existing Home Prices | $170,300 | ▼ (annually) | $199,800 |
| New Home Prices | $201,100 | ▼ (annually) | $232,400 |
- Commercial Real Estate: 'Ticking Time Bomb'
- Bank-owned Inventory: Move it!
- Realities of the New Obama Refis
- A Bigger Housing Bailout for Obama
- Home Prices: Are We There Yet?
- Treasury: Jingle Mail A Myth
- How Bad Is The Housing Market? One Man's Tale
- Appraisal Code Sparks Huge Response
- New Rules on Home Appraisals End Up Thwarting Many Sales
- Mortgage Bankers Slash 2009 Forecasts
|
CNBC'S MOST SHARED
- WPP's Sir Martin Sorrell on the Ad Recession
- Warren Buffett's Complete Sun Valley CNBC Interview - Transcript and Video
- Preparing for Retirement
- Software Giants Rush to Cash In on Carbon Counting
- The View From Newark
- Investing in Tech Now
- Maria's Market Message
- Warren Buffett Tells CNBC Consumer Sales Remain "Very, Very Soft"
- China Demands Currency Reform, France Backs Debate
- One-on-One With UFC's Dana White
- Improving Morale Vital to Success and Survival
- Global Stimulus: Boosting Water Stocks
- Warren Buffett's Top Three Investment Rules for the Average American
- Schork Oil Outlook: It’s Now or Never for the Bulls
- Social Networking's 'Naked' Truth
- Farrell: Let's Enjoy the Numbers for a Moment
- Call Of Shame - Vote Now
- Schmidt on Social Media, Ads and Hulu
- Obama Struggles With His Healthcare Overhaul
- GM CEO Vows Leaner and Better Company To Emerge
- World Has Avoided Economic Disaster, Obama Says
- Farrell: Let's Enjoy the Numbers for a Moment
- Social Networking's 'Naked' Truth
- Geithner Seeks Clampdown on Derivatives Dealers
- A Muscle Car to the Rescue for General Motors
- Recession Special: Steak for $5!
- UBS Can't Comply with US Request: Internal Memo
RSS FEED

![]() |
CNBC.com |
Inventories continue to go up, now to a 10.3-month supply, which is, on a month’s supply basis, over 50 percent higher than a year ago. Prices are still down nationwide, and I got an interesting admission from the Realtors on that one today as well.
A week ago they reported in their quarterly metro home price survey that half the markets in the nation were seeing price increases and half decreases, so it’s really a split. Okay, that may be, but the markets seeing the price increases are the smaller markets. The big markets are all dropping.
“The price declines are happening in more populated regions in Miami, in California markets, so overall we are seeing more people impacted negatively on the price drops,” Mr. Yun admitted today.
Hearst Mansion Sold at Auction
Ok, but now moving on to a better indicator of today’s housing market. The oceanfront south Florida mega mansion owned by the widow of publishing heir Randolph Hearst went on the auction block this morning at the Palm Beach County Courthouse.
There are 40 million dollars worth of loans on the 52-room mansion, but it wouldn’t sell on the open market, so it sold for 22 million dollars but to the actual lender, who already has a 40 million dollar credit of course. They just wanted to drive up the price because now they will sell it for higher. Golfing great and nearby neighbor Greg Norman was in the auction room. He didn’t bid, but he was seen canoodling with the lender’s attorney.
“I was just interested to see what would happen with it, to see how many people were interested in it,” Norman told reporters at the courthouse. “Market’s a little down right now. It’s obviously a valuable piece of property, considering the size of it. It’s a great location. Like I said--I’ve got a piece of property on Jupiter Island--it’s got about a little more acreage than that. So I was just interested in seeing how it would pass up. Notice I didn’t bid.”
I guess Norman’s just like everybody else out there, trying to get a great deal on a foreclosed home, even a 40 million dollar foreclosed home. Ms. Hearst could not be reached for comment.
Questions? Comments?










