New Home Sales June 2010 330,000 and HUGE revisions to prior 3 months

New home sales reported by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development were 330,000 annualized units for the month of June 2010. The Red Bull drinking, manipulating gamers love the number as it beat the 310,000 concensus estimate. This figure is the worst on record (1963). May 2010 was revised from 300,000 annualized units to 267,000 which is a record. This is a 33,000 (11%) revision and the Census Bureau also revised the April and March 2010 figures.

Another Red Bull sir? June beats estimates by 20,000 and May revised lower by 32,000 units. Grandpa is old school however I believe 20,000 minus 32,000 does not generate anything positive.

Recap

June
330,000 annualized units...naturally a revision to follow in a month (maybe to 295k?)

May
300,000 annualized units initially reported 6/23/10
267,000 revised down 33,000 in 7/26/10 report

April
504,000 annualized units initially reported 5/26/10
446,000 revised down 58,000 in 6/23/10 report
422,000 revised down another 24,000 in 7/26/10 report

March
411,000 annualized units initially reported 4/23/10
439,000 revised up 28,000 in 5/26/10 report
384,000 revised down 55,000 in 7/26/10 report

Our Census Bureau is clearly mathematically challenged. Total downward revisions from the initial reports for March , April and May clock in at 142,000 annualized units. This equates to an average monthly downward revision of 47,333 annualized units.

Once again, the U.S. manipulated equity market continues its insane march to higher levels as the algorithmic gamers chase equities like a dog with its tail.