Wednesday, March 25, 2009

Housing Market Evidence Continues to Pile Up

The AP reports:

"The Commerce Department says sales rose 4.7 percent in February to a seasonally adjusted annual rate of 337,000 from an upwardly revised January figure of 322,000."

This adds to the growing list of reasons why the housing market is turning around in early 2009.

Oh yeah, we have to add that building permits increased in February too.


stilettoheels said...

I can't see a turnaround. But then again, your corrective lenses must be on fire if you follow Perry at Michigan-Flint.

You are late to the econoblogosphere, Casey. Tread lightly before your coke-bottled glasses are broken in a school yard rumble.

buermann said...

Wow, a +3.0 percent month-to-month rise in building permits... plus or minus 3.5%.

The census report has a helpful explanatory note regarding margins of error: "If a range does not contain zero, the change is statistically significant. If it does contain zero, the change is not statistically significant; that is, it is uncertain whether there was an increase or decrease."

The margin of error on that headline figure of +4.7 is +/-18.3%, by the way.