New Home Sales Decline 6.9%, But From Upwardly Revised Numbers
The Census Bureau's New Residential Construction report shows new home sales at a seasonally adjusted annualized rate or 673,000.
New Home Sales by Region
New home sales are down in everywhere but the tiny North-East region. However, sales are up year-over-year except for the North-East.
Lower interest rates have helped housing.
Yet, sales are about at 1963 level of 663,000.
Mike "Mish" Shedlock