Tag Archives: House Sales

Higher new home sales, with lower prices in May: good!  – by New Deal democrat Let me start with my usual caveat about new home sales: while they are the most leading of all housing metrics, they are very noisy and heavily revised. With that out of the way, the bottom line is that they offered pretty definitive evidence that sales have bottomed, while prices are still declining, at least on a YoY basis. Which makes sense, because as I always...

 Are Home Sales Bottoming? – by New Deal democrat For the past few months, I have speculated that home sales were bottoming. This morning’s report on March new home sales put an exclamation mark on that idea.New home sales increased 57,000 in March (from a February level downwardly revised by -17,000) to 683,000 annualized (blue in the graph below). The increasing trend in sales from the bottom of 543,000 last July at this point seems crystal...