Today’s economic release schedule is pretty sparse. The only thing on tap for today is new home sales. Speaking of which, new home sales fell 1.6% in February to a lower than expected 313,000 annual rate. Prices, though, rose by 8.3%, though this is counterbalanced by a 5.3 month supply of homes, the third lowest supply amount of what I laughingly refer to as "the recovery". February sales rose in the Northeast and West but fell sharply in the South, which is the key region for this series of data.

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Dale Franks
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