Existing Home Sales Take A Slight Plunge
New Home Sales Surge
New Home Sales Surge
There are three primary reports on home sales released each month.
- Existing Home Sales, based on actual closings
- Pending Home Sales, based on contracts signed
- New Home Sales, based on new contruction
In May:
- Existing homes sales decreased slightly from April and were 3% lower than a year ago. The inventory of existing homes for sale rose a little from April, but it still was 6% lower than a year ago.
- Pending home sales in May showed a similar minor decline from April. It is clear that low levels of inventory are holding back sales of previously owned homes in many regions.
- New home sales jumped a higher-than-expected 7% from April to the highest level since November 2017, and were 14% higher than a year ago. Sales in the south region reached the strongest level since 2007.
Source: ExactTarget