July New Home Sales Soar to 12.4% Month-Over-Month, Surprises Forecast

by Jill Mislinski
Financial Sense

This morning’s release of the July New Home Sales from the Census Bureau came in at 654K, up 12.4% month-over-month from a revised 582K in June. Seasonally adjusted estimates for April and May were revised. The Investing.com forecast was for 580K.

Here is the opening from the report:

Sales of new single-family houses in July 2016 were at a seasonally adjusted annual rate of 654,000, according to estimates released jointly today by the US Census Bureau and the Department of Housing and Urban Development. This is 12.4 percent (±12.7%)* above the revised June rate of 582,000 and is 31.3 percent (±19.9%) above the July 2015 estimate of 498,000.

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