Guest Post by Anthony Sanders
New home sales surprised most analysts this morning. New home sales rose 12.37% in July to 654k units SAAR.
The median price for new homes sold fell -5.12% and the months supply of new homes fell -12.2%.
While the median price for new home sales has risen to above the levels seen during the housing bubble, mortgage purchase applications are lower than during the housing bubble (although purchase applications have been rising since 2015).
Continue reading “Surprise! New Home Sales Surge 12.37% To 654k SAAR, Back To 1995 Levels”
