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Holy Snikes! New Home Sales Fall 40.3%

Posted on June 25, 2008

I had to do a double-take when i saw that number: Sales of new one-family houses in May 2008 were at a seasonally adjusted annual rate of 512,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 2.5 percent (??13.7%)* below the revised April rate of 525,000 and is 40.3 percent (??6.9%) below the May 2007 estimate of 857,000. -Census BureauA few data points worth pulling out of this months release:??? May New Home Sales totaled 512k, in line with expectations; ??? 512k is the 2nd lowest reading in 17 years (5...

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data , housing , new home sales