The National Association of Realtors served up a big bag of statistically manipulated smelly brown stuff today. My research has shown that there is not a big seasonal difference between August and September in terms of home sales. The NAR turned a 6.5% not seasonally adjusted plunge from August to September into 4.7% “statistically adjusted, annualized rate” pile of defecation.
But the “tale of the tape” is Pulte’s 6% drop in home closings and the 9% drop in its stock. In fact, the Dow Jones Home Construction Index is down 2% despite a 300 point ramp in the Dow. My report details why there’s easily another 10 points of downside unless the Fed runs the stock market to Pluto.
Anyone who bought my latest research report is now 9% richer if they acted on the information I provided yesterday. Near-money, October puts are up 100%.
I will have a detailed analysis of the NAR’s existing home sales tragicomedy later this week.
[Please note: Five of my homebuilder stock reports have not been updated with recent earnings for quite some time. The date listed above each report is the date of the last update. I am offering these reports at a discount if you purchase multiple reports. Anyone who buys my reports can receive updates as part of the price of my reports. Please contact me at this EMAIL address if you are interested in all of my reports. Once I update them with current financials. they will only be available at full price]