April New Home Sales

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Hello BPers,

Have a excerpt from an article, followed by a question. I am new to real estate investing and have yet to make a deal. Just wanted some insight from the BP community.

A quote from cnbc.com, "Sales of new U.S. single-family homes rose more than expected in April and the stock of houses on the market hit a 3-1/2 year-high, further signs the sputtering housing recovery was poised to regain steam." It went on to say, "Last month, new home sales jumped in the Midwest to their highest level since November 2007. Sales also rose in the South, but were flat in the West. In the Northeast, sales recorded their largest decline since October 2012." Read the full article at http://www.cnbc.com/id/101700865

My question relates to how does new housing sales or government housing data affect your sentiment towards the overall housing market, not just new home sales? More specifically, what trends or indicators do you look at to understand your target markets?

Thanks and have a great extended weekend!

Andy