This report still reflects weakness in the housing market.
Analysts said some of the weakness in September probably reflected disruptions in the housing market caused by moratoriums imposed by banks on mortgage foreclosures. Banks halted tens of thousands of foreclosures as they investigated allegations that some foreclosures had involved flawed legal documents.
"The foreclosure moratorium is likely to cause some disruption and contribute to an uneven sales performance in the months ahead," said Lawrence Yun, chief economist for the Realtors.
But he added, "There appears to be a pent-up demand that eventually will be unleashed as banks resolve their issues with foreclosures and the labor market improves."
However, other analysts said that housing is still bumping along the bottom following a severe economic downturn.
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