New home sales drop to a record low adjusted annual rate of 308K. All of the government's housing stabilizing measures are now a disaster, as existing home sales inventory surges to nearly 9 months, not counting the shadow inventory, which is more than double. The plunge is in all regions except the West, where the pick up was from 77K to 93k. When is the last time anyone mentioned green shoots again? And the computers ignore it all as nobody remember how to sell anymore. In fact, we expect a green market within 10 minutes as king SPARC shows all who is master.
New Home Sales Plunge To New All Time Record Low, 308K SAAR Is 2.2% Frop From Revised 315K In January
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