Key words:
“in April”
“April compared to March”
“new home”
Month to month is meaningless, we all know that, and new homes are a fraction of sales. Sales appear up because last month was horrendous, and prices are down. Look at prices/sales from a year ago and I’ll bet it’s a different story.
These guys only hear what they want to hear anyway, this is from MSN:
“At least one analyst took a glass-half-full view. “The report (on new-home sales) starts to seal the argument that the housing market is beginning to stabilize, at least in terms of demand,” Richard DeKaser, the chief economist for National City, told Bloomberg News.
Right…that of course is dependent on the pipe dream:
“Analysts are hoping that spending by consumers and businesses will be able to overcome the weakness in housing and keep the country out of a recession.”
Problem is people have no more money, no more equity, no more savings.
