Source.
Everyone is shitting all over the new home sales numbers - but I think they could be true. When that is your only market, I'm guessing the numbers will start to look pretty impressive. It's obvious the Fed is chomping at the bit to raise rates. Good luck with that.
As you can see, this blowout number is not really very impressive at all. Unless you are super impressed with recession level sales. If you expand the chart to 1976, there are only three times when new homes sales were this shitty.
But compared to the last 7 years, hey - lets celebrate and raise rates. Said in the most sarcastic way.
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