Heterodox
In response to April’s dismal report, I wrote that “new home sales are heavily revised after the first report. It is not unusual at all for big monthly moves like this to suddenly look much less severe when the number gets revised one month later. I would not be surprised in the slightest if that happened to this month’s cliff dive, when next month’s report comes out.” That’s exactly what happened, as last month was revised higher by 38,000 to...
Read More »New home sales rebound, but downtrend in sales intact; prices continue to climb
