Despite exuberant existing home sales, new home sales crosses back below the 500k Maginot Line to 482k SAAR - the lowest since Nov 2014.
Once again, NARis back to its old tricks. Previous data was revised dramatically lower as June data missed expectations by the most in a year.
The West region saw new home sales collapse 17%.
Perhaps the slide in single-family home starts means something after all?
But the most unsustainable chart of all is the one showing the ever gaping divergence between actual volumes for houses and artificially high prices. It appears CYNK is not only a feature of the stock market, but the housing market as well.




