Surprise! New Home Sales Plunge In January To One Of The Worst Months On Record

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New Home Sales in January were at a 284K annualized rate, which is well below expectations of over 300K.

The plunge from the previous month was -12.6%.

This was just slightly better than the worst month on record.

The good news, this number is so tiny and insignificant to the economy it doesn’t matter.

It’s probably good news that we’re not getting more inventory.

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