Did New Homes Sales Improve?

Barry Ritholtz has a great post on the supposed improvement in new homes sales.
The media reported that sales grew up 4.7% in February, but that’s not what the government report said. The report said that sales grew by 4.7% plus or minus 18.3%. Um…that’s a pretty big plus or minus you got there.
Barry quotes the Commerce Department, “the change is not statistically significant; that is, it is uncertain whether there was an increase or decrease.”
Kind of a different story now.

Posted by on March 26th, 2009 at 9:02 am


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