New Home Sales Numbers

More disappointing news today when the New Home Sales numbers were announced 10am today.  New Home Sales is a measure of new single-family homes that were sold during the prior month.  Like existing home sales, it is a leading indicator for most of the same reasons, but also adds in construction jobs and materials that could be produced.  Construction hits a wide array of other industries and services for example, lumber, copper, plastics, electrical workers, plumbers and such.  The forecasted number was 333k, but the actual number was 276k.  The graph for the past year is provided below: