February Existing Home Sales Should Not Have Dissappointed

The Post headlined an article on the release of existing homes sales data for February, "housing report disappoints as existing home sales dip in Feburary." It's not clear why anyone would have been disappointed. The 4.59 million annual sales rate reported for February was below the 4.63 million rate now reported for January, but above the 4.57 million rate that had been reported before the revision.

Also, these monthly numbers are highly erratic. The difference between January and February n...