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June’s New Home Sales data is a major improvement over May, but gains are relative. It’s possible that the true “new home market” may be softer than the statistics suggest.
The press is referring to the May New Home Sales report as “poor”. A closer look, however, shows that may not be the case.
At the current sales pace, the nation’s complete supply of new homes would be sold in just 5 month’s time. That’s more than double the pace of a year ago.
The sales of newly-built homes soared in March. Even more than what was expected. But the news may not be as glowing as what the media is telling us.
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