Winans International - Weak Housing Effects Economy and Elections!

NOVATO, Calif., Nov. 3, 2010 /PRNewswire/ -- If economic growth is the key to winning elections, then September's housing data was a torpedo that sank many federal and state politicians.

While progress is being made in leaving behind the worst residential real estate bear market in 68 years, this improvement is moving at a glacial pace. The Winans International Real Estate Index (WIREI) shows new housing activity nationwide continues to be very weak. Since it posts data a month ahead of other key real estate indices, we can expect more negative real estate news from Wall Street and Washington.

The table above shows that all regions in the U.S. have had declines in housing prices, and sales were mixed in 2010. National inventory levels and the length of time to sale a new home are still far above levels needed to trigger a housing recovery.

"Even with the government's housing stimulus last April, a nationwide recovery in housing will probably not happen until late 2011. Past real estate bear markets ended when new housing inventory was below 5 months, and the median length of time to sell a new house declined to 4 months. It could easily take another year to dry up excess inventory and for mortgage credit to ease," says Ken Winans, the firm's president and author of the award-winning book "Investment Atlas".

The Winans International Real Estate Index (WIREI) measures U.S. new home prices from 1830 to present day and posts data every 30 days. More information on the Winans International Real Estate Index can be found at www.winansintl.com & www.investmentatlas.com. Data can be purchased from www.globalfinancialdata.com

SOURCE Winans International

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