As shown from the Google News search above, New Home Sales rose 3.3% in April. Had we gone into a coma in 2003 and just woken up today, we might look at these headlines and think things were pretty good. But a look at the chart below paints a much better picture of the current state of the housing market. If you get real close to your computer, you can see the blip of a rise in the historical chart of New Home Sales since 1963. While New Home Sales did rise 3.3% in April, it was a month over month comparison. The real story is that sales declined 42% year over year.
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