Weekly Scorecard 3-8-10
Well better late than never. The news this week is that inventories showed some signs on increasing a little in a more traditional seasonal pattern. Usually during spring inventories rise along with sales. This appears to be the case. Sales continue to be good week over week and I think a comparison to overall volumes last year will show overall higher sales volumes.
There are two major government programs that will be expiring. The first is the home buyer tax credit and the second is that the FED will stop buying mortgages from FNMA and FHA on March 31st. While these actions may not directly affect Bellevue they may be factors in the overall economy. Will need to see how this plays out.
Here is the spreradsheet: Weekly scorecard 3-8-10
Also the February numbers are in inventories down and prices stabilizing.