Commercial Leading indicator

The latest index suggest reduced business opportunities for commercial real estate practitioners over the next six to nine months.

Jonah's thoughts: Lets keep an eye on this one.

Home Sales Index was lower by 1%

As Blanche Evans says, in Realty Viewpoint:

Add to the toxic brew of today's market, the steady drumbeat of pundits that housing sales haven't bottomed yet, and its amazing that pending sales held up as well as they did.

Sales will most likely remain flat, says the NAR.

Afteshocks are expected

Today’s bad news aftershock......for the first time the world’s largest home improvement store chain has closed a flagship store for performance reasons. The Home Depot says of the 15 stores that it plans to close within the next two months, 4 of the 15 stores are in the surrounding states of Indiana and Ohio, Home Depot also plans to close a store in Frankfort KY.

Today’s good news aftershock.... The Dow Jones industrial average rose nearly 190 points to finish above 13,000 for the first time since Jan 3. Banks, home builders, chip makers, and retailers surged.

The aftershocks are still coming. No new news there.....the good news, however, is they are aftershocks. We need to adjust to the settling of this market over the next 24-36 months.