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Thursday, May 24, 2007

Housing Revisions

by Calculated Risk on 5/24/2007 11:09:00 AM

Here was the original report for April 2006. Many analysts claimed housing had bottomed and the recovery was starting.

Click on Graph for larger image.

NOTE: The graph starts at 700 thousand units per month to better show monthly variation.

Originally the Census Bureau reported a significant increase in sales for both March and April 2006.

New Home Sales

Here is the graph today. The "recovery" in March and April 2006 has been revised away.

I expect the April 2007 sales number to be revised downwards too.

More later today on New Home Sales.