New Home Sales Rise in June but Continue Trend of Slowing Improvement
Jul 26, 2017
June’s new home sales data continued the story of a slowing improvement for the overall housing sector. Sales of new homes did improve in June when compared to May 2017 and June a year ago. However, there was a negative revision of 27k to the three months prior (March, April, May) which left the total trajectory a little weaker than previously estimated. Supporting the story of slowing improvement, total sales were up 6.4% in 2Q 2017 when compared with 2Q 2016 but down 12.3% on a seasonally adjusted annualized basis when compared to 1Q 2017.