New Home Sales Tumble By Most In Almost 2 Years As Northeast Crashes

After existing home sales sent stocks vertical on great news, so new home sales plunge has sent stocks vertical on bad news. An 11.1% drop MoM - the biggest since July 2013 - dragged new home sales back below 500k to 481k SAAR - the biggest miss in a year. Sales of new homes collapse 33.3% in The Northeast and The South saw new home sales crash 15.8%.

But the weather didn't affect Existing Home Sales:

 

The biggest MoM drop in almost 2 years:

 

And this is what the long-term trend looks like: