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On Monday the industry’s data will be due as expected, there will be a show of sales for the existing homes fell in May, and this is a sign in the persistent slump in the housing market.
According to Thomson /IFR the reports on sales of houses by the National Association of Realtors there is an adjustment at 5.97 million dollars yearly, in the forecast of Wall Street about the consensus.
This will be released at 10 a.m. EDT as scheduled. If the result of the prediction by the analyst on the month of May thus a 0.3% from a 5.99 million houses decrease in April will be reflected thus decreasing a 10.6% the same month the past year. The housing market is made up of 85% sales in the existing homes.
The sales in the new houses for May will be reported on Tuesday by the commerce department. The mounting of troubles in the market hurt the market who has been demanding the houses for subprime mortgage loan that was offered to the borrowers.
The biggest lenders this year have been strict in the payments in credits standard, there are many subprime lenders who is already bankrupt this year. The lender company’s in the first quarter who was on top, Citigroup Inc. then following it Countrywide Financial Corp., etc.
12:42
Posted on Jun-25-2007
