New Home Sales, which measures signed contracts on new homes, beat expectations just like this week’s Existing Home Sales Report. Sales are up 8.9% year over year. 2.9% over April. The Median New Home Sales Price rose 16.8% year over year to $345,800, which is the highest on record.
Today’s report showed that we had the 3rd strongest selling pace in 10 years.
Here is the link to today’s full report from the U.S. Department of Commerce – https://www.census.gov/construction/nrs/pdf/newressales.pdf.
Thanks for reading and please let me know if you have any questions.
All the best,