Don't Show The Exuberant Homebuilders These 2 Charts

NAHB homebuilder sentiment rose to 58 in November, from 54 in Oct, beating expectations but remains below the 59 cycle highs in September. Since those highs, Prospective Buyer Traffic is down the most but remains near cycle highs. The Northeast saw a huge spike in Prospective Buyer Traffic (from 39 to 51) and The West bounced back from its plunge in October.

 

 

So if everything's so awesome, what's wrong with these two charts...

 

 

It appears we have nothing to fear but the total and utter collapse of hope over harsh reality

 

Charts: Bloomberg