New Home Sales Decline No Surprise to Some

Thu, 06/24/2010 - 03:23 EDT - Seeking Alpha

John Lounsbury submits:U.S. Census Bureau report (.pdf) for new house sales in May shocked all the experts except for some investors, who sold off home builders' stocks over the past two months producing price declines of 20% to 50% and the people who trade lumber who sold off the CME lumber contract (LB) by nearly 43% in the same time period. See Tuesday's article. Calculated Risk published the following graph which shows that the latest data establishes a new record low for new home sales since the data base was started almost 50 years ago.Complete Story »

Original article
Login or register to post comments

Consumer Confidence Plunges, Unadjusted New Homes Sales Slide To Lowest Since February
Just as we saw with UMich, it appears the hope for change is wearing thin among the people. Today's Consumer Confidence data missed by its biggest margin in 7 months, dropped below the year's average, and saw the largest 2-month drop in over 15 months. All age cohorts lost confidence with the eldest most and it appears those earning over $35k are also beginning to worry (as those between $35k and $15k seem more confident).
The One Worrisome Detail In Today's New Home Sales Report
December new home sales data was just released and missed expectations falling 7.3 percent month-over-month. The most concerning detail about the report however was inventory at the end of December.
Populations Increasing in Many Downtowns, Census Bureau Reports
The 'Real' Goods On The Latest Durable Goods Data
By Doug Short: Earlier Monday I posted an update on the December Advance Report on November Durable Goods Orders. This Census Bureau series dates from 1992 and is not adjusted for either population growth or inflation.
TrimTabs Blasts Retail Sales Report, Proposes Firing All Government Economists and Disbanding the BLS, BEA and Census Bureau
Yesterday the US Census Bureau reported retail sales rose 0.8% in March. Is that what happened? Charles Biderman, President & CEO TrimTabs Investment Research, has no faith in the number. Here is a video explaining why.
The 'Real' Goods On The Latest Durable Goods Orders
By Doug Short: Yesterday I posted a commentary on the March Advance Report on February Durable Goods Orders. This Census Bureau series dates from 1992 and is not adjusted for either population growth or inflation.
The 'Real Goods' On The Latest Durable Goods Orders
By Doug Short: Earlier today I posted a commentary on the November Advance Report on October Durable Goods Orders. This Census Bureau series dates from 1992 and is not adjusted for either population growth or inflation.
The 'Real' Goods On The Latest Durable Goods Orders
By Doug Short: Earlier today I posted a commentary on the August Advance Report on July Durable Goods Orders. This Census Bureau series dates from 1992 and is not adjusted for either population growth or inflation.
Housing Is My #1 Theme as Home Prices Resume Their Decline
Richard Suttmeier submits: On Tuesday I published the first five of my eleven themes for 2011. Number One - Home Prices will resume a decline that began in mid-2006.We had the home buyer tax credits expire in mid-2010, and government sponsored mortgage modifications provided limited help.In 2011 we face continued foreclosure issues including questionable documentation, and banks have a record high Other Re

Main menu

Secondary menu

New Home Sales Decline No Surprise to Some

Related

Latest

User login

Our Blog

Markets Map

Follow Us

Secondary menu