New US Home Sales Unexpectedly Dive As Housing Roller Coaster Continues
New US home sales tumbled in November, according to volatile data released ahead of the holiday weekend.
The 12.2% drop was the largest since April of 2022, and the 590,000 annual rate the slowest in a year.
The headline missed every estimate. The lowest guess from 61 extensively-trained professionals was 650,000.
To reiterate: This series is quite volatile, and it's never a great idea to extrapolate from it. Builder sentiment fell a fourth straight month in November before recovering in De
Well, at least the forecasters are extensively trained! Hehehe…..
Hey now, there’s no reason to go around disparaging the ‘Recalculate’ button on a spreadsheet. It’s doing the best that it can!