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US New Home Sales Tank

This is a syndicated repost courtesy of Confounded Interest. To view original, click here. Reposted with permission.

US New Home Sales dropped 7.8% MoM in May to 626k units SAAR.

Liquidity moves markets!

Follow the money. Find the profits! 

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Notice that new home sales YoY are down 3.7% while median prices for new home sales are down 2.7% YoY.  New home sales YoY peaked in 2012 and have been slowing cooling.

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And new home sales are declining despite declining mortgage rates.

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