New Home Sales fall 8.4% in June to 350K units annualized down from the upward revision of 382K from 369K in May. The May revised mark was a two-year high for new home sales. Though down from May to June, new home sales are up 15.1% year-over-year.
The New Home Sales report shows the number of newly constructed homes with a committed sale during the month. It is compiled through a nationwide survey of 10,000 builders/owners of 15,000 building projects and through sampling of permit-issuing offices, as well as land not covered by building permits. The data is timely and is used in conjunction with the existing home sales release from the National Association of Realtors. The level of new home sales indicates housing market trends, and economic momentum signaling consumer purchases of furniture and appliances. Simply, the volume of sales indicates housing demand.
The New Home Sales report shows the number of newly constructed homes with a committed sale during the month. It is compiled through a nationwide survey of 10,000 builders/owners of 15,000 building projects and through sampling of permit-issuing offices, as well as land not covered by building permits. The data is timely and is used in conjunction with the existing home sales release from the National Association of Realtors. The level of new home sales indicates housing market trends, and economic momentum signaling consumer purchases of furniture and appliances. Simply, the volume of sales indicates housing demand.
About the Author
Shawn Kaplan is an active, 50 state Licensed loan officer with Access National Mortgage. Email Shawn at skaplan@accessnational.com or call 615-426-3182.
Bonus: Click to get a free, no-obligation rate quote. I love to work with my readers!
