Tilted
..
I would continue to caution people against reading too much into a single, or even a few, data point(s). We get multiple new data points most every day and they vary, from point to point and month to month, in the story that they would tell. They bounce back and forth - beating expectations, falling short of expectations; providing reason for optimism, providing reason for pessimism. You have to step back and look at the whole picture, and put respective data points in context, to get a fair sense of the current landscape and what's likely going forward.
That said, I think the juxtaposition of these two data points (or sets), both from the last few days, is interesting. We got a really good existing home sales number on Wednesday and a really bad new home sales number today. I'd also note that all cash sales reportedly now account for 31% of existing home sales.
New home sales hammered, prompting doubts about recovery
US existing home sales jump to 3-year high
The data releases themselves: New home sales, Existing home sales
That said, I think the juxtaposition of these two data points (or sets), both from the last few days, is interesting. We got a really good existing home sales number on Wednesday and a really bad new home sales number today. I'd also note that all cash sales reportedly now account for 31% of existing home sales.
New home sales hammered, prompting doubts about recovery
US existing home sales jump to 3-year high
The data releases themselves: New home sales, Existing home sales