I am running out of alarm bells to ring.
Expectations were for a 1% gain in new home sales — instead February is down 2.2%. Worst. Performance. Ever. Oh, and look here. Mortgage rates are up (duh!) and applications are down. (double duh!)
Existing home sales were off the other day too, with the national median price down to — $165K.
My one counter-indicator: More trucks with ladders on them on the road in Charlotte. I’m dead serious. Might be something of an indication that folks are spending money — at least locally — on fix-up projects for spring. More jobs, more money. All good.
At least I hope so.
