New Home Sales Decrease to 634,000 Annual Rate in April (4.7% Below March Rate Of 665k, 7.7% Below April 2023)

#bubble, #inflation, #wine, @MetreSteven @JeffSnider_AIP @DiMartinoBooth @bondstrategist @RaoulGMI @LukeGromen @dlacalle_IA @EconguyRosie @profplum99 @SantiagoAuFund @biancoresearch @pboockvar @SriKGlobal, Banking, Economy, Existing Home Sales, Housing, New Home Sales, Powell, Silver, Treasuries, Treasury, Uncategorized, Wages, Yellen, Yield Curve 1 Minute

South of the border, down Mexico way.

I was expecting MORE housing construction given the 10+ million illegal immigrants that Biden/Mayorkas have waived across the border.

Sales of new single‐family houses in April 2024 were at a seasonally adjusted annual rate of 634,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 4.7 percent below the revised March rate of 665,000 and is 7.7 percent below the April 2023 estimate of 687,000.


The previous three months were revised down.

The second graph shows New Home Months of Supply.

The months of supply increased in April to 9.1 months from 8.5 months in March.

The all-time record high was 12.2 months of supply in January 2009. The all-time record low was 3.3 months in August 2020.

This is well above the top of the normal range (about 4 to 6 months of supply is normal).

Published by confoundedinterest17

Published