New Home Sales Plunge 22.5% In April, 16.6% From Deep Negative Revisions
New home sales have peaked this cycle and the bottom is nowhere in sight.

The key idea is a crash in sales and it's much worse than reported after factoring in revisions.

Last month, the census department reported 763.000 sales at a seasonally-adjusted annualized rate (SAAR).

This month, the census department revised March down to 709,000 sales. From the original March report, sales fell 22.5%.


[link to mishtalk.com (secure)]