Housing Blogs

After the Census Bureau releases the preliminary New Home sales estimate, they revise the estimate three times (over the next three months) as more data becomes available.Historically the revisions can be in either direction - higher or lower - but beginning in 2005 I noticed that most of the revisions were down. All of the revisions (between preliminary and final) were down in 2006 and for most of 2007. It appeared that the Census Bureau had a systemic error in estimating preliminary sales during periods of rapidly declining sales….
Original Source: feeds.feedburner.com/CalculatedRisk