Homes Sales Data: 36 Consecutive Month Streak of Meaningless Inconclusivity Stays Alive

G’head, make this mean something (via MarketWatch):

New homes in the U.S. were sold at an annual rate of 328,000 in March, slightly above market forecasts. Yet sales fell by 7.1% last month because purchases of new homes in February were revised sharply higher, according to Commerce Department data released Tuesday. In February, the sales rate was revised up to 353,000 from an original reading of 313,000.

You can’t form these monthly reports into anything bordering on lucidity.  And anyone who acts like they can is spilling a chalice full of chicken bones across a table and telling young maidens when and to whom they shall be betrothed.

Take your housing market  “insights” and GTFO.

 

 

 

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