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    America's Fixer-Upper Housing Market

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    America's Fixer-Upper Housing Market

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    America's Fixer-Upper Housing Market

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    America's Fixer-Upper Housing Market

    Lahart, Justin . Wall Street Journal , Eastern edition; New York, N.Y. [New York, N.Y]26 Feb 2015: C.8.

    ProQuest document link

    ABSTRACT
     
    A simple linear regression analysis shows that if the same relationship seen in the period between 2002 and 2010
    held, the real home improvement sales figure in December would have been associated with combined sales of 7
    million new and existing homes, at an annual rate.

    FULL TEXT
     
    [Financial Analysis and Commentary]

    It isn't a great time to be in the business of selling homes. But fixing them up? That is a different story.

    The Commerce Department on Wednesday said that builders in January sold 481,000 new, single-family homes at
    a seasonally adjusted annual rate. That was near the highest level since 2008, but still well below the levels of the
    1990s and early 2000s. This came on top of disappointing January existing-home sales figures from the National
    Association of Realtors on Monday.

    In contrast, the home-improvement industry is doing well: Witness strong results this week from Lowe's Cos. and
    Home Depot Inc. This reflects a broader trend. Commerce Department data show that in real terms, people are
    spending as much on home and garden tools and supplies as they were in 2007.

    Home improvement's strength amid continued weakness in home sales represents a break in the trend that
    existed up until a few years ago, when they were more closely related. A simple linear regression analysis shows
    that if the same relationship seen in the period between 2002 and 2010 held, the real home improvement sales
    figure in December would have been associated with combined sales of 7 million new and existing homes, at an
    annual rate. That is about 1.4 million higher than what was actually recorded. Rather than buy their dream home,
    people are trying to make the home they already own look more like it.

    Credit: By Justin Lahart

    DETAILS

    Subject: Real estate sales; Home building; Economic trends; Home improvement industry

    Company / organization: Name: National Association of Realtors; NAICS: 813910; Name: Home Depot Inc;
    NAICS: 444110; Name: Lowes Cos Inc; NAICS: 444110

    PDF GENERATED BY SEARCH.PROQUEST.COM Page 1 of 2


    Classification: 3100: Capital &debt management; 3400: Investment analysis &personal finance;
    8360: Real estate; 8390: Retailing industry; 9190: United States

    Publication title: Wall Street Journal, Eastern edition; New York, N.Y.

    Pages: C.8

    Publication year: 2015

    Publication date: Feb 26, 2015

    column: Heard on the Street

    Publisher: Dow Jones &Company Inc

    Place of publication: New York, N.Y.

    Country of publication: United States, New York, N.Y.

    Publication subject: Business And Economics--Banking And Finance

    ISSN: 00999660

    Source type: Newspapers

    Language of publication: English

    Document type: Commentary

    ProQuest document ID: 1658359339

    Document URL: https://search.proquest.com/docview/1658359339?accountid=194676

    Copyright: (c) 2015 Dow Jones &Company, Inc. Reproduced with permission of copyright owner.
    Further reproduction or distribution is prohibited without permission.

    Last updated: 2017-11-21

    Database: ABI/INFORM Global

    Database copyright  2019 ProQuest LLC. All rights reserved.

    Terms and Conditions Contact ProQuest

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