I guess the stimulus extension is not doing it’s job…
Ugh.
The Commerce Department reported Wednesday that new home sales dropped 11.2 percent last month to a seasonally adjusted annual sales pace of 309,000 units, the lowest level on records going back nearly a half century. The big drop was a surprise to economists who had expected sales would rise about 5 percent over December’s pace. via the AJC
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It is such a shame that the market continues to fluctuate and is now dropping again. The stimulus extensions and packages aren’t building much confidence in investors at all. Perhaps only time will tell if the market will actually start to rise again. Lets hope our government and economy can get their act together soon.