Anyone else harbor suspicions that one of these numbers is not right? One way up, one way down. That's month over month of course only. Maybe desperate home-buyers knew they could only buy existing homes? Talk about an inventory jump YoY in existing home sales too. :eek:
Maybe the home builders are reading all the crap in the newspapers so they've trimmed their construction crews and are focusing on selling inventory...thats what they are doing in my neck of the woods. But eventually, they will have the inventory down to a level where they will start building again. If demand goes down, and you sell widgets, you have to cut back production of widgets. SM