The seasonally adjusted rate of new home sales for February was 337,000, according to a report released by the US Census Bureau this morning. This represents a 4.7 percent increase over January. But it is a 41.1 percent decline from February 2008.
Over at The Big Picture, Barry Ritholtz explains why the new numbers are anything but cause for celebration--no matter what the headlines may say. And for exhibit A, he points to this chart from the Census Bureau:
Read Ritholtz's post here.
The full Census report is available here.
Posted
03-26-2009 12:17 PM
by
Graham Griffith