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"New Home Sales Rose For Fifth Consecutive Month In August "
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2009 Sep 25, 7:14am 2,967 views 5 comments
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DQnews does not revise its numbers. They show solid declines from July to August.
Homes will always sell, no matter the economy. The prices at which they sell for are what matters.
They didn't just rise, they started soaring again according to some news sources! I bet the new number gets revised even lower than the previous month's number thus netting a fall rather than a rise. It's really sad when people don't look at the numbers and see the intellectual dishonesty rampant in today's version of journalism.
If new housing is doing so swell, and stocks are on the rise, why did Robert Toll sell of 1 million in Toll Bros stock?
See above article
Look at this: http://www.rttnews.com/Content/AllEconomicNews.aspx?Id=1077163
They write:
"The report showed that new home sales rose 0.7 percent to an annual rate of 429,000 in August from a revised 426,000 in July. Economists had expected sales to increase by 1.6 percent to 440,000 from the 433,000 originally reported for the previous month."
So originally reported July sales were 433K. Now,<B>originally reported</B> August sales are 429K. But they had revised July sales to be 426K and the sales magically "rose". Now, rinse and repeat and you can report sales rising every month even if the actual number of sales goes down.