Post by unlawflcombatnt on Dec 27, 2006 19:00:11 GMT -6
Wednesday's New Home Sales report for November showed an "increase" to an annualized 1.047 million. It is also another tribute to government statistical manipulation. Don't be fooled by today's alleged "increase" in New Home Sales. And don't let the alleged upward revisions in the previous 2 months fool you either.
July's original New Home Sales number was 1.072 million, which has since been downwardly revised to only 0.979 million. And August's original New Home Sales number was 1.050 million, which has since been revised downward to 1.021 million per year. So today's New Home Sale number of 1.047 million is still less than the initially stated August number, and considerably less than the originally stated July number of 1.072.
This is simply another classic case of the government downwardly revising previous numbers to make current numbers look like an improvement.
In July, the total New Home Sales figure July was an annualized rate of 1.072 million. December 27th's report showed an "updated" July number of only 0.972 million, or a downward revision of 100,000 sales. The originally reported annualized rate for August was 1.050 million. In today's report it has been revised downward to 1.021 million, or by a -29,000 home sales.
Earlier months have also been revised downward. May's New Home Sale number was revised downward -133,000 from its originally posted 1.234 million in May to 1.101 in August's report. Also from the August report, the original June New Home Sale number had been revised downward to 1.091 million, its originally published 1.131 million, or by -40,000
Since May alone, the downward revisions of annualized rates totals -302,000. Another way to compare this is that May's New Home Sales annualized rate was 1.234 million originally. Today's New Home Sale annualized rate is 1.047 million, or 187,000 less than it was in May. This is a decline in the sales rate of 15% since the initially reported number for May.
Below is a composite graphic of selected copies of Briefing.com's monthly New Home Sales reports, starting today's New Home Sales report, and going back through December 2005's "predicted" numbers. The most recent report is on top, going backward in time to December 2005 (on the bottom).
To sum up Wednesday's report, the 1.047 million New Home Sales reported are still less than the originally reported August sales of 1.050 million, and considerably less than July's originally reported sales of 1.072 million per year.
Wednesday's numbers, however, denote a still larger decline since the originally posted rate of 1.404 million for October of 2005. Today's New Home Sales rate of 1.047 million denotes a change of -357,000 annually since October of 2005. This is a decline of 25% since the originally reported number for October of 2005.
New Home Sales are definitely on the decline. The slight uptick for November is largely a product of downward revisions of previously posted numbers. Again, today's annualized New Home Sale rate is 25% less than the October 2005's originally posted number.
July's original New Home Sales number was 1.072 million, which has since been downwardly revised to only 0.979 million. And August's original New Home Sales number was 1.050 million, which has since been revised downward to 1.021 million per year. So today's New Home Sale number of 1.047 million is still less than the initially stated August number, and considerably less than the originally stated July number of 1.072.
This is simply another classic case of the government downwardly revising previous numbers to make current numbers look like an improvement.
In July, the total New Home Sales figure July was an annualized rate of 1.072 million. December 27th's report showed an "updated" July number of only 0.972 million, or a downward revision of 100,000 sales. The originally reported annualized rate for August was 1.050 million. In today's report it has been revised downward to 1.021 million, or by a -29,000 home sales.
Earlier months have also been revised downward. May's New Home Sale number was revised downward -133,000 from its originally posted 1.234 million in May to 1.101 in August's report. Also from the August report, the original June New Home Sale number had been revised downward to 1.091 million, its originally published 1.131 million, or by -40,000
Since May alone, the downward revisions of annualized rates totals -302,000. Another way to compare this is that May's New Home Sales annualized rate was 1.234 million originally. Today's New Home Sale annualized rate is 1.047 million, or 187,000 less than it was in May. This is a decline in the sales rate of 15% since the initially reported number for May.
Below is a composite graphic of selected copies of Briefing.com's monthly New Home Sales reports, starting today's New Home Sales report, and going back through December 2005's "predicted" numbers. The most recent report is on top, going backward in time to December 2005 (on the bottom).
To sum up Wednesday's report, the 1.047 million New Home Sales reported are still less than the originally reported August sales of 1.050 million, and considerably less than July's originally reported sales of 1.072 million per year.
Wednesday's numbers, however, denote a still larger decline since the originally posted rate of 1.404 million for October of 2005. Today's New Home Sales rate of 1.047 million denotes a change of -357,000 annually since October of 2005. This is a decline of 25% since the originally reported number for October of 2005.
New Home Sales are definitely on the decline. The slight uptick for November is largely a product of downward revisions of previously posted numbers. Again, today's annualized New Home Sale rate is 25% less than the October 2005's originally posted number.