Posted on 07/26/2011 8:58:01 AM PDT by markomalley
Sales of new homes in the U.S. saw a modest decrease in the month of June, according to figures released Tuesday by the Commerce Department, with the drop in sales coming as a surprise to economists.
New single-family home sales came in at a seasonally adjusted annual rate of 312,000 in June, a 1 percent drop from revised figures that showed the May rate at 315,000.
Most economists had predicted a slight rebound to an annual rate of 321,000 new home sales. Additionally, the May figures were revised downward from initial reports that showed an annual rate of 319,000.
(Excerpt) Read more at rttnews.com ...
>>Saw it coming a mile away, huh?<<
I wouldn’t go that far, but unexpected? No.
BTW, with this kind of data, I’m really only concerned with year over year, not month over month. Imagine an article that says “Late November Retail Sales Soar” compared to October sales. That’s not news, even though it is technically accurate. What would be news would be if black Friday DIDN’T outperform the previous Friday.
The “good” news is that inventories bottomed out to a record low 164,000 units.
It’s all seasonally adjusted annualized rates so they are comparable M/M.
Hmmm, just like the movie Groundhog Day.
Truly a pack of idiots.
Got to love how the deranged media continues to use “unexpected”.....so frakin’ lame but hilarious. =.=
The forecast is for more foreclosure storms of several different kinds. The coming immense decline of socialism (government layoffs in attempts to avoid the inevitable default) and the return of Baby Boomers to dust will certainly have an effect for decades. Real estate is dead and will stay dead for a long time.
Yeah, I love ow all these things are alwys so “unexpected!” What a crock. A child can easily see how access taxes (taking away your money) will cause these things to happen.
The Liberal ideology of BIG Government at work with YOUR TAX DOLLARS and mine.
A sign that the USA is becoming the USSA.
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