January New Home Sales Collapse Most Since 2009 As Prices Plunge To 2-Year Lows

Wednesday, February 24, 2016
By Paul Martin

by Tyler Durden

Against expectations of a 4.4% drop, New home sales collapse by 9.2% in January. This is the biggest January drop since 2009 as dragging the SAAR to 494k (back at December 2014 levels). Worse still, home prices tumbled – from $295,800 to $278,000 (lowest since April 2014), and down 4.5% year-over-year as it appears the inventory fears have disappeared with months-supply surging from 5.1 to 5.8. Yet another leg of the “recovery” collapses.

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