Home sales sink 8%
Pace of existing sales shows bigger-than-expected drop; decline is biggest in current measure of market.

NEW YORK (CNNMoney.com) -- Existing home sales sank 8 percent last month, to the lowest pace on record, according to the latest reading on the state of the battered real estate market released Wednesday.

Sales of existing homes slowed to an annual pace of 5.04 million in September, according to the National Association of Realtors, compared with the revised 5.48 million sales pace in August.


http://money.cnn.com/2007/10/24/news/economy/homesales/index.htm?cnn=yes

Is it not for US market? It should be under USA not udner this main thread.

There is a strong correlation between Canadian real estate stock performance and American real estate stock performance. The same factors apply to both markets: Tightening credit, speculative buying to flip, and speculative buying to rent and little first time buyers.
To those that argue that what is going on in the United States has nothing to do with the Canadian market. If this were true, then the Canadian real estate market index should have continued to outperform the American real estate market index.

CDN S&P/TSX REIT Sector Index
http://finance.google.ca/finance?q=BGIIREIT
DOW JONES US REAL ESTATE INDEX
http://finance.google.ca/finance?q=INDEXDJX%3A.DJUSRE

That's a very interesting trend. The Canadian index curve dropping & it doesn't look any different from the US curve.

Yesterday, S& P /Case-Shiller US National Home Price Index (Q3 2007) results came out.

The above index is a well respected measure of US home prices (single-family housing), and is based upon 10-City, 20-City composite and metro area indices.

The indices have a base value of 100 in Jan 2000; for example, a current index value of 228.67 (Washington) translates to 128% appreciation rate since Jan 2000 for a typical home located in Washington.

You can see the break up of other Metro areas, Composite-10 and Composite-20 in the below link.

http://www2.standardandpoors.com/spf/pdf/index/CSHomePrice_Release_112766.pdf

The chart data shows 10-City and 20-City composite values at -4% or lower (to date), which appears to me that this (percentage) is lower than year 2000.

Can someone analyse this graph?

-----------------------------------------------------------------
Amit Kalia, Broker, REALTOR®
RE/MAX Real Estate Centre., Brokerage
independently owned & operated
100 City Centre Dr, Unit 1-702
Mississauga, ON L5B 2C9
Phone No.: 905-339-5111
Website: https://www.realestate-ontario.com/
Condo Blog: https://condopundit.com/blog/

As per my view,
It does not show actual value based on 100. It shows change percentange in value.So now in next month the price for Wastington goes to 250 it will so 9.32..% increase.

Exactly. Thanks for clarifying. More anaylsis is welcome.

Here, I found the graph showing the correct X and Y index values:

http://www2.standardandpoors.com/spf/pdf/index/SP_CS_Home_Price_Indices_Factsheet.pdf

-----------------------------------------------------------------
Amit Kalia, Broker, REALTOR®
RE/MAX Real Estate Centre., Brokerage
independently owned & operated
100 City Centre Dr, Unit 1-702
Mississauga, ON L5B 2C9
Phone No.: 905-339-5111
Website: https://www.realestate-ontario.com/
Condo Blog: https://condopundit.com/blog/