Hot-Hot-Hot! May New Home Sales Rise 14% YoY (But Median Price Falls -3.3% YoY)

Again, the US economy and housing market are hot-hot-hot. 

New home sales for May surprised analysts by rising 6.7% MoM to 689k units SAAR. The forecast was for 0.7% MoM.

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On a YoY basis, new home sales have risen 14%.

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BUT the median price of new home sales declined 3.3% YoY in May, the lowest growth rate since 2012.

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Feelin’ hot-hot-hot!

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