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Stocks add to losses following disappointing new home sales (January revised lower as well)....

Stocks add to losses following disappointing new home sales (January revised lower as well). Builders certainly can't blame the weather or mortgage rates. Scott Barber points out NAHB optimism isn't yet being confirmed by better data on sales. S&P 500 -0.4%, Nasdaq -0.6%.
Comments (4)
  • Tony Petroski
    , contributor
    Comments (6373) | Send Message
     
    "Builders certainly can't blame the weather or mortgage rates.

     

    AP reported that "experts in the construction industry confirmed Friday that lingering effects from the Royal Wedding are putting a damper on building."
    23 Mar 2012, 10:17 AM Reply Like
  • Josh Krause
    , contributor
    Comments (1361) | Send Message
     
    The Royal Wedding? Sure. I bet home sales are being negatively impacted because Ben chose Courtney in the Bachelor.

     

    Snooki getting pregnant must account for at least half of the miss in expected home sales.
    23 Mar 2012, 10:31 AM Reply Like
  • bbro
    , contributor
    Comments (9330) | Send Message
     
    Completed new homes for sale...54,000...lowest on record going back to January 1973....no recession has started unless first this number gets above 100,000
    23 Mar 2012, 10:20 AM Reply Like
  • mickmars
    , contributor
    Comments (1323) | Send Message
     
    Prior month's numbers revised down massively....what a shocker.
    23 Mar 2012, 10:29 AM Reply Like
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