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New Home Sales Plunge, Price Inflation Slows

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

Sales of new single‐family houses in July 2019 were at a seasonally adjusted annual rate of 635,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 12.8 percent below the revised June rate of 728,000, but is 4.3 percent above the July 2018 estimate of 609,000.

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But on a year-over-year (YoY) basis, US new home sales rose 0.6%.

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The Midwest, South and West saw MoM declines of over 10%. Median price for new homes rose 2.22%.

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