An article in today's NY Times hints that the awful September MRIS data I reported two weeks ago may not be an anomaly. NAR reported that sales of existing homes fell 8% in September, "the slowest rate in at least 8 years." Inventories rose to a 10.5 month supply.
In answer to my question whether the light at the end of the tunnel was a train headed our way, we're told:
"The bottom is just falling out," said Bill Hampel, chief economist of Credit Union National Association. Mr. Hampel said the outlook for the housing market remained grim. "Next month will be about as bad as this month," he said."