Reuters Entry in Worst Reporting of the Year Contest: Tells Readers "June New Home Sales Post Biggest Drop in Over One Year"

Reuters must be trying to win a Pulitzer in the bad business reporting category (sorry folks, you've got some stiff competition). The headline of a piece on the Commerce Department's report on new home sales for June warned of the largest drop in sales more than a year. Are you scared?

If you look at the data, you would notice that May had one of the biggest jumps in sales in the last year, raising the rate to the highest level since the fall of 2008. Furthermore, three quarters of the drop w...