Tagged : New housing statistics 
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Why New Home Sales Statistics Don't Matter!
Wednesday, June 24th, 2009 at 8:55pm. 318 Views, 2 Comments.
The new home sales index came out this week and was again, very week. The media sees this statistic and makes the basic assumption that the housing market is going to take longer to recover. While the media reports the statistic, I've yet to hear any local or national outlet report on the reasons. In my opinion, this bellweather is not a good indicator of what is happening in the housing sector. I've outlined a few thoughts below.
BUILDERS WERE WIPED OUT
In Atlanta, many of the small local home builders have lost their businesses due to the economic crisis. I personally knew some incredble home builders that were also good business people. They took risks like most, and did not see the tsunami of the housing downturn coming. By the time they did, it…