Of course, this was not unexpected for anyone who reads my work…
manipulated adjusted rate fell to 4.93 million – well below the expected rate of 5.2 million. Note: this is a statistically calculated annualized rate and bears no resemblance to the actual sales rate. As we know from an earlier post, SoCal home sales in November plunged 19%. Inventory is climbing quickly, which is consistent with all of the new “for sale” and “for rent” listings all over the metro-Denver area.
More later, but suffice it so say that my homebuilder short-sell reports are very ripe and ready: Homebuilder Reports.