Report
Data Round-Up: New Home Sales Falter in July, Trend Remains Positive
posted by Michael Lewis on August 23, 2017
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Headline
New home sales continue to be held down by limited inventory/selection. As housing starts trend up, new home sales will rise. And vice versa.
Abstract
Sales of new single-family homes fell -9% from 630K in June to 571K in July (seasonally-adjusted at annual rate). This was softer than expected and the lowest level since August 2016. However, the sting was eased substantially by a +46K upward revision to 17Q2 results. July’s 571K reading was well below the 615K average for 2017-H1. Nonetheless, the sales trend remains positive: for 2017-to-date, sales were +9% above the comparable period in 2016.About Michael Lewis
Mike Lewis founded Free Market Inc. (FMI) in 1982 as a full-service economic consulting firm, providing insights and in-depth data analysis primarily for institutional money managers and corporate planning directors.
FMI has compiled a solid record of timely, independent and accurate economic forecasts. FMI blends its unique analysis of indicators and experience with economic cycles into a consistent overall outlook. They offer both a comprehensive overview and in-depth detail that enable clients to integrate FMI’s insights into their decision-making process.
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