New Home Sales Decline 6.9%, But From Upwardly Revised Numbers

Investment Advisor Representative - Sitka Pacific Capital Management • May 23, 2019 at 12:06 PM EDT

The Census Bureau's New Residential Construction report shows new home sales at a seasonally adjusted annualized rate or 673,000.

New home sales fell 6.9% in April to a 673,000 (SAAR). Upward revisions added 39,000 sales to the prior two months.

The Census Bureau's New Residential Construction report shows new home sales at a seasonally adjusted annualized rate or 673,000.

New Home Sales by Region

(Click on image to enlarge)

New home sales are down everywhere but the tiny North-East region. However, sales are up year-over-year except for the North-East.

Lower interest rates have helped housing.

Yet, sales are about at 1963 level of 663,000.

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