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New Home Sales Decline 6.9%, But From Upwardly Revised Numbers

Summary:
New home sales fell 6.9% in April to a 673,000 (SAAR). Upward revisions added 39,000 sales to the prior two months. The Census Bureau's New Residential Construction report shows new home sales at a seasonally adjusted annualized rate or 673,000. New Home Sales by Region New home sales are down in everywhere but the tiny North-East region. However, sales are up year-over-year except for the North-East. Lower interest rates have helped housing. Yet, sales are about at 1963 level of 663,000. Mike "Mish" Shedlock

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New home sales fell 6.9% in April to a 673,000 (SAAR). Upward revisions added 39,000 sales to the prior two months.

The Census Bureau's New Residential Construction report shows new home sales at a seasonally adjusted annualized rate or 673,000.

New Home Sales by Region

New home sales are down in everywhere but the tiny North-East region. However, sales are up year-over-year except for the North-East.

Lower interest rates have helped housing.

Yet, sales are about at 1963 level of 663,000.

Mike "Mish" Shedlock

Mike Shedlock
Mike Shedlock (Mish) is a registered investment advisor representative for SitkaPacific Capital Management (http://www.sitkapacific.com/). Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.

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