July 17, 2024

home sales
home sales

The commerce Department reported today that June New Home Sales climbed 24% from May’s sales. One should realize that May’s sales were were the slowest since 1963!

Patrick Newport with IHS Global Insight said: “They’re horrible numbers. It’s a really bad market for builders. They were only good numbers because in May they were worse. They’re just abysmal.”

New home sales prices are down in part because builders are slashing costs & also because homes today are smaller and cost less to build.

In the West, new home sales fell 7% from May’s numbers.

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