Posted on 08/23/2011 7:12:48 AM PDT by Free Vulcan
WASHINGTON (MarketWatch) — U.S. sales of new homes declined in July for the third straight month, a sign of continued woes in the housing market.
Sales fell 0.7% in July to a seasonally adjusted annual rate of 298,000, the slowest pace since February, the Commerce Department reported Tuesday. Sales had reached 316,000 in April before slipping.
The drop was a surprise to analysts. The consensus forecast of Wall Street economists was for a 1% gain in home sales to a 315,000 rate.
(Excerpt) Read more at marketwatch.com ...
Unexpected. Who would have thought...
How many 'unexpecteds' are allowed before we get some better analysts?
Experts agree and some people say this was unexpected!
We are in for an eternity of them!
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