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Tuesday, May 23, 2017

April US new home sales 569K vs 610K expected

  • Prior sales 621K (revised to 642K)
  • Supply at 5.7 months vs 4.9 in March
  • Single family sales 0.569 million pace vs 0.610 m expected
  • Prior single family sales pace 0.642m
  • Single family sales -11.4% vs +5.8% in March
  • Median sale price $309,200 vs $321,300 prior
  • Homes for sale 0.268m vs 0.264m prior
This is a terrible report that hit out of nowhere. For the moment, you have to set it aside as an outlier in what looks like a strengthening housing market but it's a big disappointment.

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