The Mortgage Reports Blog: The Graph That Shows Why New Home Sales Are At 17-Year Lows

Wait, shhhhhh….

Don’t tell anyone about this report until I get a chance to build my duplex in NorCal and then buy another duplex here in San Diego!

So, instead of citing 17-year lows, the better statistic for the press to report would have been the 11.0 month supply of new homes on the market.  Because it’s up from 9.8 in February, buyers may now have additional negotiating leverage with developers that want (or need) to get their unsold, newly-built homes off the books pronto.

Just because the headlines read like bad news doesn’t mean that the story is bad news, too.  Dig a little deeper for the real story,

I’ve been waiting for five years for the market to correct like this so I could make a common sense investment, and now that it does, everyone wants to say we’re doing fine.

So I have to say - just listen to your televisions, pay no attention to this chart…