New Home Sales Fell 32.8%
Posted By Barry Ritholtz On June 24, 2009 @ 11:39 am In Real Estate | Comments Disabled
Once again down the rabbit hole:
No, we do not know what the monthly sales were for New Homes. The data point for sales of new one-family houses in May 2009 was 0.6%, but the margin of error was ±17.8%. That means the number is statistical noise.
And as expected, April’s data was revised downwards.
Year over year, sales fell 32.8% — a valid number relative to the error (±10.9%) below the May 2008 estimate of
The median sales price of new houses sold in May 2009 was $221,600; the average sales price was $274,300. The supply of new houses for sale was 10.2 months at the current sales rate.
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New Home Sales, May 2009
[1]
Via Barron’s Econoday [2]
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Source:
NEW RESIDENTIAL SALES IN MAY 2009 [3]
U.S. Census Bureau and the Department of Housing and Urban Development.
JUNE 24, 2009
http://www.census.gov/const/newressales.pdf
Article printed from The Big Picture: http://www.ritholtz.com/blog
URL to article: http://www.ritholtz.com/blog/2009/06/new-home-sales-fell-328/
URLs in this post:
[1] Image: http://www.ritholtz.com/blog/wp-content/uploads/2009/06/new-home-sales-may-09.gif
[2] Barron’s Econoday: http://barrons.econoday.com/byshoweventfull.asp?fid=437978&cust=barrons&year=2009#top
[3] NEW RESIDENTIAL SALES IN MAY 2009: http://www.census.gov/const/newressales.pdf
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