woensdag 26 juli 2017

New Home Sales Disappoint As Median Price Drops Year-Over-Year

After disappointing existing home sales (following a notable drop in homebuilder confidence), new home sales modestly disappointed in June (610k vs 615k exp) with a small downward revision to May...


The 3rd downward revision in the last 4 months...


Perhaps more notable is the 3% drop in median home prices YoY following a big downward revision in May (from record $345,800 to $324,300)...

Of course, homebuilders remain blissfuly ignorant of the actual state of the housing 'recovery', with the biggest gap between hope and home sales ever...


And as the real estate market's data collapses, optimism remains...