A few Comments on July New Home Sales

New home sales for July were reported at 571,000 on a seasonally adjusted annual rate basis (SAAR). This was well below the consensus forecast, however the three previous months were revised up sharply .  Overall this was decent report. Sales were down 8.9% year-over-year in July. Earlier: New Home Sales decrease to 571,000 Annual Rate in July . Click on graph for larger image. This graph shows new home sales for 2016 and 2017 by month (Seasonally Adjusted Annual Rate).  Sales were down 8.9% year-over-year in July. Note that sales in July 2016 were strong, so this......(read more)

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