New home sales moderating right on cue

By Logan Mohtashami | HousingWire

When economic data goes parabolic, there is usually a story behind it. Housing data tends to be very sticky, so when housing numbers first fell and then went parabolic in 2020, we were witnessing one of the most extraordinary swings in data ever recorded in human history.

This chart from September 2020 is an excellent example of this behavior last year.

With that said, these parabolic moves are destined to moderate, and it is important not to over-read this moderation. This has been my theme since the summer of 2020, and back in September, I wrote this article about new home sales being hot, but not bubbly. 

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