Tim Rood wrote an interesting post today on
Here’s a quick excerpt
New home sales were up slightly in
February the Mortgage Bankers Association (MBA) said today, but the increase
was based on a substantially downgraded January estimate. MBA issues their estimate of new home sales,
which is based on mortgage applications, in advance of the official count by
the U.S. Census Bureau.
Sales of new homes were at a seasonally
adjusted annual rate of 533,000 units in February, 1 percent above the revised
January rate of 527,000. January’s sales
were originally estimated at a rate of 543,000 which represented a 35 percent
surge from an unusually low sales rate of 402,000 in December. On an unadjusted basis MBA said there were
43,000 new homes sold during the month, a 13 percent bump from January’s 38,000
sales.
…(read more)
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Read the rest of this great post here