New Home Sales declined an additional 11.4% over the last month, which was 7.5% under market expectations. Despite that, D.R. Horton (not to be confused with Dr. Seuss’ “Horton”) reports almost $148M in net income this quarter. Interestingly enough, the movie saw net revenues of $212M when it was released in 2008.
Realty Trac reports that there are currently 0.4% more homes with negative equity than this time last year. This makes the first quarterly increase in three years.
Weekly Jobless Claims only up 1,000 from last Thursday, and 7,000 above the expected number.
Despite all of the marginally poor economic data, Bond pricing is down again this morning, putting upward pressure on interest rates.