The Census Bureau reported New Home Sales for April today, and at face value, the news is good.\u00a0 Economists expected an annual pace of 692k, but were instead treated to a surprisingly high 743k–just edging out 3 of the best months over the past 3 years.<\/p>\n
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Unlike many of the other reports we cover, there’s really no glaring counterpoint when we zoom out to a wider frame of reference.\u00a0 Sure, sales were higher during the post-pandemic housing frenzy, but unlike existing homes and other housing data, New Home Sales are as good or better than their pre-pandemic levels.\u00a0<\/p>\n
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So what’s the catch? It’s too soon to say.\u00a0 In some sense, today’s results are cheapened by the fact that last month’s numbers were revised quite a bit lower.\u00a0 Granted, big revisions are not-at-all uncommon for this data series, but if we’re going to award titles like “best levels in 3 years,” it’s worth noting that this will not be the case if we see even a fraction of the same sort of downward revision next month.<\/p>\n
Geographically, the surprising surge was led by the South and Midwest.\u00a0 The Western region held mostly steady and the Northeast lost ground.\u00a0<\/p>\n
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Northeast<\/strong><\/p>\n
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Midwest<\/strong><\/p>\n
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South<\/strong><\/p>\n
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West<\/strong><\/p>\n
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New Home Sales at 3 Year High, Maybe… The Census Bureau reported New Home Sales for April today, and at face value, the news is good.\u00a0 Economists expected an annual pace of 692k, but were instead treated to a surprisingly high 743k–just edging out 3 of the best months over the past 3 […]<\/p>\n","protected":false},"author":1,"featured_media":1214,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[972,259,973,309,268],"class_list":["post-1213","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-loan","tag-high","tag-home","tag-maybe","tag-sales","tag-year"],"_links":{"self":[{"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/posts\/1213","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/comments?post=1213"}],"version-history":[{"count":0,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/posts\/1213\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/media\/1214"}],"wp:attachment":[{"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/media?parent=1213"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/categories?post=1213"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/tags?post=1213"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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