Despite lagging mortgage applications and home sales, homebuilder sentiment surged for the 4th month in a row to 59 (against expectations of 56) to its highest since November 2005. Prospective Buyer Traffic (hope) soared to 47. The South region rose dramatically as Midwest fell. The disconnect between hard data in the housing market and soft survey guesses by the homebuilders grows ever wider…
First this…
4th beat in a row to Nov 2005 highs…
Midwest lost the lead to the South…
Of course, We’ve seen this before…
Charts:Bloomberg
via Zero Hedge http://ift.tt/1o34FLe Tyler Durden