Wall Street Greek

The Wall Street Greek blog is the sexy & syndicated financial securities markets publication of former Senior Equity Analyst Markos N. Kaminis. Our stock market blog reaches reputable publishers & private networks and is an unbiased, independent Wall Street research resource on the economy, stocks, gold & currency, energy & oil, real estate and more. Wall Street & Greece should be as honest, dependable and passionate as The Greek.

Tuesday, September 30, 2014

Don’t Believe the Hype About a Housing Downturn!

Don’t believe the hype! Media and most reporters grabbed hold of the fact that the Pending Home Sales Index declined in August, and in so doing, missed the point that the modest decline still left the index near its highest point this year and on a trend line higher. The Pending Home Sales Index reported Monday for the month of August declined 1.0% month-to-month to a level of 104.7, from 105.8 (revised from 105.9). That sounds like a bad result, and it’s the point of notation most reported on. However, looking just a little closer at the data, which is why you follow me, we see that this modest decline follows July’s sharp increase of 3.2%, and leaves the index still at the second highest level it has been this year. See the full housing report here.