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  1. I still think the South is the only part of the housing market that is showing any signs of improvement. Construction in the Northeast and Midwest is basically maintaining, the West is showing some increase in activity but not in completions, and the South is showing increases in activity AND completions. (YoY July numbers). In fact, South monthly completions are up to 15.5% of the number under construction. In addition, South New Home sales are up 35% July 2013 vs July 2014 (all other areas are flat). New for sale in the South is up ~10%. In addition to these Census numbers, the Realtor numbers show the South to be the only region with increased Existing sold numbers (though it is barely an increase, the rest show a decrease). My bet is that the existing inventory in the South is also down.
    This is definitely the case in my area, two people that just moved here said they looked at houses that were for sale but ended up renting and have signed for new construction due to not being able to find anything that met their needs (available existing homes were really old and “strange”).

    Comment by Scott — August 26, 2014 @ 11:53 am

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