Thursday, 27 August 2009

New home sales in the US: get real, folks

This was the headline
‘July New Home Sales up 9.6%’
From Realmoney.com we borrow following chart in order to put this number in perspective:



Look out: SAAR means seasonal adjusted. So this figure can be meaningful but at the other hand: it’s still worse than 95% of all the other months over the last 50 years.
Anyway, the pace of the downfall we experienced last two years will slow down. We hope.
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