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May New Home Sales: -32.7% to 300K vs. 400K expected, 446K (revised) prior. Months' supply 8.5...

May New Home Sales: -32.7% to 300K vs. 400K expected, 446K (revised) prior. Months' supply 8.5 vs. 5 prior. Median price $200,900.
Comments (14)
  • Kristjan Velbri
    , contributor
    Comments (110) | Send Message
     
    Wall Street should replace 'expected' with 'hoped'. Expectations grounded on thorough analysis is one thing, but blind hope, the one usually associated with politicians, is pure BS.
    23 Jun 2010, 10:07 AM Reply Like
  • Papaswamp
    , contributor
    Comments (2204) | Send Message
     
    wow....huge miss
    23 Jun 2010, 10:07 AM Reply Like
  • Kristjan Velbri
    , contributor
    Comments (110) | Send Message
     
    Actually, it was a gargantuan miss. The so called analysts should've expected this. They knew federal 'bonuses' for buying a new home were going to end. It's like Toyota with their brakes - they knew they had a problem but failed to mention it. I guess the only difference is that you can sue Toyota, but not the people who put out nonsense like this.
    23 Jun 2010, 10:17 AM Reply Like
  • Conventional Wisdumb
    , contributor
    Comments (1802) | Send Message
     
    So much for the economist's consensus estimates. Must suck to be so wrong so often but at least they do it as a group.
    23 Jun 2010, 10:07 AM Reply Like
  • montanamark
    , contributor
    Comments (1444) | Send Message
     
    more green shoots for the booming obama recovery. worst market since 1981. what american does obama sue today?
    23 Jun 2010, 10:08 AM Reply Like
  • dingding
    , contributor
    Comments (255) | Send Message
     
    The PPT will be back again this afternoon.
    23 Jun 2010, 10:18 AM Reply Like
  • papa grande
    , contributor
    Comments (3) | Send Message
     
    I didn't "expect" home sales to rise in May. Who are these economist with bullish expectations anyway. The downside would be less volatile with less assumptions.
    23 Jun 2010, 10:20 AM Reply Like
  • montanamark
    , contributor
    Comments (1444) | Send Message
     
    here comes the happy talk from the obama business channel.
    things are great.
    23 Jun 2010, 10:26 AM Reply Like
  • CautiousInvestor
    , contributor
    Comments (3062) | Send Message
     
    Why in the world would we expect ANY new home sales with empty homes scattered across the nation's landscape. Desparate policy makers should not confuse hope with likelihood.
    23 Jun 2010, 10:27 AM Reply Like
  • MiniB
    , contributor
    Comments (55) | Send Message
     
    I think economists and politicians were the only ones expecting good numbers. Everyone else with half a brain knew this was coming.
    23 Jun 2010, 10:31 AM Reply Like
  • mickmars
    , contributor
    Comments (1323) | Send Message
     
    The only good thing that comes out of each one of these "worse than expected" reports is that it teaches us which analysts/pundits should be discounted....forever.

     

    Funny how those who believe in a housing "recovery" tend to be the same ones who were telling us that the stocks were the place to be in 2007.
    23 Jun 2010, 10:49 AM Reply Like
  • Duude
    , contributor
    Comments (3398) | Send Message
     
    It will be interesting to see how much the weekly average home mortgage interest rate will be affected as more new home and existing home sales reports come out in the next few months. Seasonally, we're at the height of the year's market.
    23 Jun 2010, 11:48 AM Reply Like
  • The Delivery Guy
    , contributor
    Comments (147) | Send Message
     
    How much of the miss was no Sale as compared to Bought a Foreclosure instead sale? Because if its more of the later, it might be a positive... anyone have the number?
    23 Jun 2010, 12:02 PM Reply Like
  • Kristjan Velbri
    , contributor
    Comments (110) | Send Message
     
    Are you kidding? These were new home sales, not 'used'. You can't have a new home in foreclosure, someone has to mortgage it first, only then can it go into foreclosure. By that time, it's not a 'new' home anymore.
    23 Jun 2010, 01:15 PM Reply Like
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