Housing is in the spotlight after some recent indications of a slowdown:
- Prior was 440K (revised to 449K)
- Slowest pace since July 2013
- Sales down 14.5% compared to +2.3% exp
Much lower than expected. Occasionally, we see big misses in this report and this is certainly one.
New home sales
Worries about housing have been percolating and they might be about to go mainstream. The US dollar is under mild pressure and stocks are at the lows.
At the housing peak in July 2005, new home sales were at 1390K.
