Homebuilder Confidence Drops To 5 Month Low

NAHB sentiment dropped to its lowest since June (after hitting 8-year highs just 3 months ago). This is the 3rd miss in a row as a huge rebound in prospective buyer traffic (read hope) in the NorthEast seemed to save the data from a fate worse than death. The prior print was revised down from 57 to 54 as it appears for the 3rd time in 20 years, the exuberance in realtor confidence is shown to be a false flag...

NAHB misses for 3rd month, drops to 5 month lows...

 

"saved" by miracle of HOPE in the NorthEast...

 

But it seems the 3rd time is not the charm for the hope addicted...