Horrible February new homes sales. Annualized home sales were just 250K, vs, expectations of over 280K. The decline was 16.9%.

This is a level not seen since the Kennedy administration.

It also jibes with the bad existing home sales number form earlier this week.

What was that Goldman said earlier about new housing data no longer having the ability to shock people to the downside?

See Also: GARY SHILLING: And Now House Prices Will Drop Another 20%