New Home Sales: 7 Year Low

There was no good news whatsoever in today’s New Home Sales Data:

• Sales of new-homes dropped nearly 4% in February.

• This is the lowest reading since June
2000, according to Commerce Department data.

• On a year-over-year basis, sales were down 18.3%.

• Inventories of unsold homes rose 1.5% to 546,000. This represents an
8.1-month supply. Marketwatch notes this is the largest inventory in relation to sales since
January 1991.

• On a year-over-year basis, the inventory is up 26.6%. 

•  The
median price rose
2.8% sequentially — down 0.3%  year-over-year basis, to $250,000.

This report is hard to reconcile with last week’s Existing Home Sales; One of them is likely wrong, and I suspect the NAR prepared Existing Home Sales is the dud . . .

Category: Data Analysis, Real Estate

What Market Hazards Are Ahead?

Category: Currency, Earnings, Markets, Real Estate

Spring LinkFest!

Category: Weblogs

Investing Advice: If you are NOT a billionaire . . .

Category: Apprenticed Investor, Investing, Psychology

Saturday Afternoon Funnies

An amusing set of ‘toons:

Foreclosures

Read More

Category: Psychology, Real Estate

The Patient’s Improving, For Now

Category: Economy, Federal Reserve, Inflation, Media

Friday Night Jazz: Count Basie & Joe Williams

Category: Digital Media, Friday Night Jazz, Music

CD Sales Plunge 20% so far in ’07

Category: Digital Media, Music

Neutral Bias?

Category: Data Analysis, Federal Reserve

Brouhaha over the Booyah: Timing Reveals All

Category: Financial Press, Markets, Psychology