October new homes sales at record level, but the AP is sad...

I shake my head when I read lead paragraphs like this from the AP;
Sales of new homes soared at a record pace in October in what could be a last hurrah for the booming housing market.


The Commerce Department said that sales of new single-family homes shot up by 13 percent last month, the biggest one-month gain in more than 12 years. The increase pushed sales to an all-time high seasonally adjusted annual rate of 1.42 million units.

The increase confounded analysts who had been predicting that new home sales would decline by 1.8 percent, reflecting continued increases in mortgage rates. It was possible that the unexpected surge reflected a final rush by buyers to get into the market before mortgage rates climb higher.

So we have record setting new home sales yet the AP says its the last hurrah.

These so-called expert analysts are the only people I know of where they are paid for being wrong on a monthly basis. Can I have that job? If I was as wrong as they are I would be job-hunting constantly.
Analysts believe the nation's booming housing market is beginning to show signs of slowing under the impact of rising mortgage rates, which are going up as the Federal Reserve continues a campaign to boost interest rates to make sure inflation does not get out of control.

Well, maybe not. The Fed indicated in the just released minutes from their November 1st meeting that the their interest-raising campaign may be coming to end shortly after the New Year depending on existing conditions.

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