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Not exactly an Apples to Apples comparison due to Redfin reporting all sales and not just new along with different reporting methodologies.  That said I would expect the new home sales surge to be revised lower in the coming months.  Time will tell it always does but the data coming back for real estate is showing increasing cracks particularly with respect to sales volume.  Should these trends continue a repeat of the 2006-2008 real estate crisis could well become a reality as the market conditions are already there from an affordability perspective.

This is Caleb Lawrence Registered Investment Adviser Scotts Valley Drive and Willis Road in the Scotts Valley Plaza, Suite 202 or call me toll free at 888-RICH PIG / 888-742-4744.

You can catch me on the radio at noon each business day as well on California’s central coast.  KPIG 107.5 FM in the Monterey Bay or KPYG 94.9 FM in San Luis Obispo.

Investment Manager Advisory services offered through Caleb Lawrence Registered Investment Adviser Inc.

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