To borrow (and twist) a phrase from famed politician Tip O'Neill: "All real estate is local."So, here we are, another month passes and another series of national home sales reports leaves us wondering about the state of housing in America. But does the data really tell us anything? Point #1: New Home Sales only measures the number of new contracts written on homes that are newly-built. The report doesn't do follow-up to see if the homes actually closed, though. With...
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