US New Home Sales Fall, but Sector Remains a Bright Spot

Yakov72 | Jan 25, 2013 10:07 AM ET "New Home Sales Drop to 369,000 in December, Less Than Expected"(c) Hysterical header. And some would say that CNBC spreads "panic" and "drama". Consensus was 385K. (and last month was almost 400).

JohnnyOxygen | Jan 25, 2013 10:20 AM ET Wait a minute! Diane "The Shill` Olick said happy days were here again. I`m confused.

stockbandit91 | Jan 25, 2013 10:21 AM ET Housing sales number are subject to large revisions, obvious by looking at the upward revision to November. Also, home builders have given updates of large increases occurring in January. I would not short home builders now as we are going into the spring selling season, the risk is to the upside in sales for 2013, not to the downside. Buy the rumor (now), sell the fact(a few months from now during Spring).

seveneleven | Jan 25, 2013 10:28 AM ET Help ! The TBTF`s are holding the housing sector as a hostage.

giofls | Jan 25, 2013 10:30 AM ET From 1960 to 2008, the average annual number of single family new housing completions was over 1.1 million. The worst year was about 630K, in the depth of the early 80`s recession. 2012 came in at 484K, above 2011 but below 2010`s 496K. Housing is still sitting at the bottom. Draw your own conclusions on whether a recovery is coming, but it hasn`t started yet. Whether Dec was up or down a few thousand is irrelevant.

ChumBucket | Jan 25, 2013 10:34 AM ET "the sector still appears set to be a bright spot in the country`s economic recovery".... makes perfect sense doesn`t it, with unemployment stuck at 7.8%, U6 unemployment at 14% and GDP of 2%!

duke71 | Jan 25, 2013 10:37 AM ET Let`s be realistic who closes in December? There are like 15 total days available around the holiday hustle and bustle.

antisocial | Jan 25, 2013 10:38 AM ET same crap different day.

No_kidding | Jan 25, 2013 10:39 AM ET ..."Government data for new home sales are subject to substantial revisions."... Government data on anything is subject to substantial revisions. It all depends on what they want public. The only time they publish something like this is when even they realize they can`t create a positive spin.

CautiousInvestor | Jan 25, 2013 10:52 AM ET No one should be surprised that New Home sales dropped as buyers scooped up bargain Existing Homes, instead, in December. Those bargains in Existing Homes were uniquely available this December as sellers cut their prices in order to make the sale before year`s end, and before the change in the Capital Gains tax rate. What should surprise -- make that "SHOCK" -- is that the sale of EXISTING homes also significantly fell, despite the bargains they offered. In large measure this drop seemed to result from the over all rise in home prices and the slight bump up in mortgage rates. The fact that such a small increase in home prices and mortgage rates can derail what many observers thought was an inexorable rise in home sales is shocking indeed. Given this fragility, perhaps Robert Shi






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US New Home Sales Fall, but Sector Remains a Bright Spot

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