Keeping you up to date on the latest data releases.
- New Home Sales
Monthly data for new home sales continue to be volatile and heavily skewed by the effects of the homebuyer tax credit. New single-family home sales rose dramatically in June, by 23.6 percent, after plummeting an even larger 36.7 percent in May. Despite June’s increase, the annual pace of sales sits at just 330,000 units, only second to May as the slowest pace on record. The monthly Census data are subject to revision and have behaved erratically in recent months surrounding the tax credit deadline. However, even the smoother quarterly data have shown three consecutive declines, starting with the last quarter of 2009. Year-over-year growth in sales now sits at −16.7 percent, up from −27.2 percent recorded in May. The months’ supply of new single-family homes dropped to 7.6 from 9.6 months, reflecting June’s sales jump and a 1.4 percent decrease in the inventory of homes on the market.