New Home Sales Down 11.4% Overall, 15.8% in South; Median Price Declines

By: Mike Shedlock | Thu, Apr 23, 2015
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The Bloomberg consensus estimate for new homes sales was an overly-optimistic 518,000. Instead, it's bad news again as new home sales fell a very steep 11.4 percent to a 481,000 annual rate.


New Home Sales in Thousands

New Home Sales in Thousands

The Northeast contributes the least. The South contributes the most followed by the West so weather is not a significant factor.

Above New Home Sales table from Census.Gov.


Single Family Home Sales

Single Family Home Sales
Larger Image

Everyone seems to expect a return to the bubble years even though it's pretty clear where the range really belongs.

Demographically speaking, as boomers age, their houses will add to existing supply as they downsize, then pass away.

 


 

Mike Shedlock

Author: Mike Shedlock

Mike Shedlock / Mish
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Mike Shedlock

Michael "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Visit http://www.sitkapacific.com/ to learn more about wealth management for investors seeking strong performance with low volatility.

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