It's nice to see something "rising" by a significant margin (3.7%; 1% or even 0.5% could be huge in the business world), but we also have to note "pending", implying that these homes MAY NOT SELL.
What is the basis of the rise? Compared to last month, compared to what?
This is an insignificant number as it is also a result of large Government Subsidies on the low end. The Federal Government also just gave Home Builders a $33 Billion Dollar windfall.
There is a huge difference between earning money and accepting a hand out.
If I piss in a cup I don't create food... it's still a cup full of piss now matter how you want to look at it. Sure I "could" drink it... but it still wouldn't be food.
The logic behind increasing numbers that are no more than handouts is nothing more than Political Spin to sustain the status quo while they dream up the next PR Lie.
I hope people start buying, maybe my husband could sell something.lol.
October home sales rose as people scrambled to get the soon to be expiring housing credit. At the last minute it was extended but during the month it was advertised as expiring. Clasic case of pulling forward future sales
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