Today, in the Calculated Risk Real Estate Newsletter: New Home Sales Decrease to 619,000 Annual Rate in May
Brief excerpt:
The Census Bureau reports New Home Sales in May were at a seasonally adjusted annual rate (SAAR) of 619 thousand, however the three previous months were revised up sharply.
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The next graph shows new home sales for 2023 and 2024 by month (Seasonally Adjusted Annual Rate). Sales in May 2024 were down 16.5% from May 2023.
This year-over-year decline followed 13 consecutive months with a year-over-year increase. In May 2023, seasonally adjusted sales hit the high for the year, so this was a difficult comparison.
There is much more in the article.