Homebuilder stocks are already giving back their spike gains from the surreal "if we hope it, they will buy" numbers from the NAHB on future sales expectations but we thought - given the unprecedented spike in mortgage rates [3], collapse in mortgage applications [4], and slowing home sales - that a couple of charts were in order to reflect upon the best two-month rise in 'hope' for futures sales in 22 years...
Perfectly normal... the biggest two-month rise in NAHB's future sales expectations in 22 years... and is back to its most hopeful since 2006
[5]
but we've seen these 'hope-driven' future sales evaporate very quickly before...
[6]
This time is different though of course...
Charts: Bloomberg