New Home Sales
Still sneaking higher into the summer, but still down YOY — but the highest since last November:
Calculated Risk has the story and the charts:
The first graph shows monthly new home sales (NSA – Not Seasonally Adjusted).
Note the Red columns for 2009. This is the 2nd lowest sales for June since the Census Bureau started tracking sales in 1963.
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Months-of-supply for inventory has peaked, and there is some chance that sales of new homes has bottomed for this cycle – but we won’t know for many months. However any recovery in sales will likely be modest because of the huge overhang of existing homes for sale.
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