Today’s New Home Sales Report – Not Believable

The new home sales number reported today by the Government’s Census Bureau with “seasonal adjustments” is simply not believable. If you look at this link and scroll down to the “Not adjusted” section, you’ll see TOTAL of 9,000 more homes nationwide were sold in May vs. April: May New Home Sales According To The Census Bureau

Furthermore, you’ll see the average sales price soared nearly 5%. This is not consistent at all with past data correlations when rising prices curtail sales.

Finally, we know that 93% of all new home buyers use a mortgage to buy a new home. New home sales are based on contract signings, When a contract is signed, the buyer then applies for a purchase mortgage. Purchase mortgage applications plunged in May. The data for new homes may be decreasing but for households moving into new homes, used homes. This has been on the up in recent months. I’m pretty sure the Alpharetta movers would agree, with an increase in business in our local area. If you’re looking to move home, you may want to check the Alpharetta movers out for all your moving needs.

New home sales data is compiled and reported by the Govt’s Census Bureau. Like all other Govt reports, this one is simply not believable.

6 thoughts on “Today’s New Home Sales Report – Not Believable

  1. Perhaps folks are financially strapped OR are on to the games of the Banks.

    I heard on the financial radio, that folks shouldn’t use their homes as an ATM. Good point, but they went on to say..”it’s more of a piggy bank”. I thought yes with the bank opening it up with an interest bearing key.

    For those of you who know what I just said, salute! Most folks don’t.

    Oh, not to mention pesky school, water and sewage tax.

    Fool me once….

  2. Are you kidding me?? I am A Realtor of many years! Sales are UP!!! Prices are flat but coming up! Even through the recession, our business has not slowed down! Between three agents we have done over 45 million in the first quarter, so I don’t want to hear about the market not doing well!! you need to get the facts confirmed before you throw out a story like this. apparently you e either looking at your local market or you have no clue about wht you are talking about!!!!!! I am conservative and love infowars, but I apparently need to keep this in check!! UGH!!

    1. http://nypost.com/2014/06/23/labor-acts-to-hide-older-data-in-job-surveys/

      Census Bureau compiles new home sales too. Glad you are doing well. There are certainly pockets of areas that are strong. But most of the country is declining. I know from visual observation certain neighborhoods in Denver still seem hot and many others have “for sale” signs popping up like crazy that are stagnating.

      Rather than patting yourself on the back for being a genius, you should be sucking the dicks (Yellen’s too) of every member of the Fed for juicing the system with enough money to artificially stimulating a bounce in housing that we’ll all pay for later. In that regard, I’d advise taking your taxpayer financed commissions and buying gold and silver til your balls turn blue rather than spending it on the nice new Beamer 6-series and an upgraded country club membership.

    2. Ehh… I would think any Realtor making “millions” would have enough brain matter not to make so many grammar mistakes in a small post like that. I smell a bot. AUTOBOTS ROLL-OUT!!!

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