The inestimable Lucia Mutikani reports for Reuters that existing home sales rose to a 2-year high in September. These numbers are more meaningful than how, in two posts ago as I mentioned, new home builders have just been messing all over themselves. From Mutikani's article:

The National Association of Realtors said sales of existing homes jumped 9.4 percent in September to an annual rate of 5.57 million units, the highest level since July 2007. Financial markets had expected sales to rise to a 5.35 million unit pace...

I can't emphasize enough, especially now that the new home buyer tax credit should be extended into the spring this week in congress, that figures of existing home sales along with forward indicators of durable goods orders and business sentiment indicators (precursors to job growth) are the real numbers to watch. Don't look at the bad numbers arising from bad strategy from bad managers at bad builder corporations.