The seasonally adjusted headline number for the monthly-error-times-12-annualized version of new home sales in June was 482,000.
Wall Street analysts had guessed that the number would be 550,000. The Wall Street Journal went into apoplectic excuse-making mode, almost foaming at the mouth to try to find pundits to explain away the bad number.
The whole spectacle was silly and pointless since we have actual data and can readily see whether sales remain on trend or not. We don't need Wall Street pundits to tell us what to think.