Here's my quick look at today's Commerce Department New Home Sales:
- Associated Press Headline And Lead: "New home sales fall 3.6 percent... Sales of new U.S. homes dropped unexpectedly last month as the effects of a soon-to-expire tax credit for first-time owners started to wane."
- Department Of Commerce News Release: click here.
- Key Numbers: New Houses Sold Unadjusted: 31,000, Year Ago: 35,000, Year Over Year %: 11.43. Median Price Unadjusted: $204,800, Year Ago: $225,200, Year Over Year %: -9.06.
Here's
my uneducated (also not not spun by guys trying to make you a sucker)
interpretation - A bad set of numbers which indicate that perhaps the so-called housing "recovery" is over. I
think the housing market is a big illiquid market that trends heavily,
so I'll stick with year-over-year numbers for now. I think next month's
numbers will be especially telling.
MontyHigh, www.worldofwallstreet.us
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