Media reporting on new home sales...Idiots!!

[edhopper]

The Media lipsincs for the NAR to tell us New Home Sales "unexpectedly" rose in February.
Look at the chart

First thing to notice is that home sales ALWAYS rise in February over January. So there is no "unexpexted" rise. Then we see not only are they down by almost 50% from last year, but down over 75% from their 2005 peak. In fact this was the worse February on record! Going back to 1963. I repeat, new home sales have never been this bad. But no one is reporting that.
So instead of cheer leading with a lie, maybe the business media could just report the truth.

[On the Road]

1. What Were the Expectations Exactly?

Sounds like they beat them.

[edhopper]

5. Expectations have been

way off to the low and up sides for years. Meaningless.

[OHdem10]

2. Sometimes these things are orchestrated in order to paint a rosier

picture of the economy.

[2Design]

3. link? Charts not showing n/t

[edhopper]

4. Link to chart

http://www.calculatedriskblog.com/2009/03/new-home-sales-just-above-record-low.html

[Jim__]

6. Looking at the graph, we can expect the same thing in March.

In which case they'll report it as 2 consecutive months of growth. My guess is that the "reporters" are just quoting from someone's press release. Most of them don't seem the least bit curious about what's actually going on.