Spot The Odd One Out - New Home Sales Spike To 7-Month Highs

Existing home sales - down; pending home sales - down; affordability (as rates spike) - down; new home sales - up at 7-month highs (beating all but one of 70 economists' estimates)

New Home Sales SAAR in Feb printed 592k (beating expectations of 564k by 3 standard deviations)...

Weather played a big role by the look of it...

Northeast sales tumbled 21.4% MoM as Midwest soared 30.9% MoM!

And home prices appeared to tumble to the lowest since July.

 

This is the biggest two-month median home p4ice drop since 1970...

 

Spot the odd one out...

Choose your own narrative.

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