Home Sales Did NOT Improve


	Home Sales Did NOT Improve

Joshua Zumbrun

3-26-2009 10:12 AM

445 views

tags:

new, home, sales, improve, horrible, recovery, not yet

Joshua Zumbrun says:

I just bought a book to study economic indicators and am going to start highlighting these sorts of mistakes. Home sales always jump between January and February because nobody buys houses in January. It's not because housing is stabilizing, it's because Christmas is over.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/dc089f7a-93e8-4ba9-971a-fa8c4d23236e/FDA3D037-95D6-43BE-B3BD-F74EB25E1E41/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.ritholtz.com/blog/2009/03/new-home-sales-fell-41-in-february-2009/" href="http://www.ritholtz.com/blog/2009/03/new-home-sales-fell-41-in-february-2009/" style="font-size: 11px;">www.ritholtz.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ritholtz.com/blog/2009/03/new-home-sales-fell-41-in-february-2009/">New Home Sales Fell 41% in February 2009</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ritholtz.com/blog/2009/03/new-home-sales-fell-41-in-february-2009/">By Barry Ritholtz</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ritholtz.com/blog/2009/03/new-home-sales-fell-41-in-february-2009/"><P>The parade of the mathematically innumerate media business writers continues unabated. The latest evidence? New Home Sales.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ritholtz.com/blog/2009/03/new-home-sales-fell-41-in-february-2009/"><P>After incorrectly reporting the Existing Home Sales, the mainstream media totally screwed the pooch on the Census department report of New Homes.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ritholtz.com/blog/2009/03/new-home-sales-fell-41-in-february-2009/"><P>No, New Home Sales data did not improve. In fact, they were not only <EM>not positive</EM>, they were actually horrific. The year over year number was a terrible down 41%.  Sales from this same period a year ago have nearly been halved.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/FDA3D037-95D6-43BE-B3BD-F74EB25E1E41/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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