by Mish

The Econoday consensus estimate of 602,000 units missed the mark badly, but there was an upward revision in March.

Mortgage News Daily reports New Home Sales Contract Sharply in April.

Sales of newly constructed homes lost momentum in April, reversing three straight months of gains. The Census Bureau and the Department of Housing and Urban Development said sales were down 11.4 percent from March to a seasonally adjusted annual rate of 569,000, and barely eked out an 0.5 percent gain from the April 2016 estimate of 566,000 units.
There was one positive note. Sales in March were revised upward significantly; from 621,000 to 642,000. The pushed March ahead of last July, to being the strongest month since the housing crisis began.
Sales in the Northeast were down 7.5 percent from March and 5.1 percent compared to April 2016. The Midwest saw sales decline by 13.1 percent for the month, but were 19.7 percent higher than a year earlier
In the South, month-over-month sales were down by 4.0 percent, but sales rose 4.1 percent from the previous April. The West took the biggest hit, down 26.3 percent and 13.7 percent for the two periods.


New Home Sales 1963-Present

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The above chart puts the strength of the recovery in proper perspective.

Mike “Mish” Shedlock

New Home Sales Plunge to Lowest Annualized Pace in Three Years

New home sales plunged to a seasonally-adjusted annualized rate (SAAR) of 571,000.

New Home Sales Near Post Crisis High

New homes sales rose at a seasonally-adjusted annualized rate(SAAR) of 621,000 in March vs. an Econoday expectation of 588,000.

Existing Home Sales Best Since February 2007: Good as it Gets?

Existing home sales beat expectations with a climb to 5.71 million units, seasonally adjusted annualized (SAAR).

New Home Sales a Bit Short of Expectations, May Revised Lower

New home sales came in at a seasonally adjusted annualized rate of 610,000 units, just short of the Econoday consensus of 611,000.

New Home Sales Plunge 10.4 Percent: In Search of Good News

New home sales in December plunged 10.4 percent in December to a seasonally adjusted annualized rate of 536,000.

New Home Sales Highest in 12 Years

Sales jumped to the highest level since October 2007.

Housing Peak? Existing Home Sales Drop 2.5%, Down Year-Over-Year Second Month

It's looking increasingly likely that housing has peaked this cycle. Year-over-year sales are down the second month,

Existing Home Sales Top Consensus

Existing home sales came in at 5.34M, seasonally adjusted annualize, topping the consensus estimate of 5.28M.

New Home Sales Sink 1.7% to 627,000 Units: Builder Spec Homes Most Since 2009

New home sales in July were 627,000 units SAAR. Economists expected a rebound in new home sales to 649,000 from 631,000.