July Housing Stats
[Update. 10:30 am (CST): the official number is down 27.2%. Meanwhile, the market is up just a bit from where it opened, down 100. The takeaway? Nobody’s shocked.]
The big number today is the imminent release of July housing sales (about a minute away).
Judging by the stock market’s first 30 minutes today — in fact, the week-long slide — no one’s anticipating that the number’s going to be good.
You’ll know if the number is better or worse than expected by the market’s immediate reaction.
