Sales are up on a month to month basis, but sales of new homes are still down 11% YOY. The headline is, of course, highly misleading.
“WASHINGTON (AP) — Sales of new homes surged in April by the biggest amount in 14 years, but the median price of a new home dropped by the largest amount on record. The mixed signals left no clear picture of whether the worst of the nation’s housing slump is over.”
The only mixed signals are deliberate and coming from the press.
