Knobias ClipReport (6-26-2007)
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Submitted from Knobias ClipReport
Monday’s session saw home sales numbers reach four year lows and inventory numbers of previously owned homes reach their highest levels in 15 years. The summation was a bleak look for housing over the coming months.
The morning hours of trading saw the market begin the week in a green fashion before abruptly turning about face in the noon hours and ending the day moderately in the red. Much of the losses were attributed to market data which was set to be released during Tuesday’s session. Also contributing was continued unrest from the brokers stemming from subprime losses.
