This graph shows new home sales for 2020 and 2021 by month (Seasonally Adjusted Annual Rate).
The year-over-year comparisons were easy in the first half of 2021 - especially in March and April.
However, sales will likely be down year-over-year in the 2nd half of 2021 - since the selling season was delayed in 2020.
And on inventory: note that completed inventory (3rd graph in previous post) is near record lows, but inventory under construction is closer to normal.
This graph shows the months of supply by stage of construction.
The inventory of completed homes for sale was at 36 thousand in June, just above the record low of 33 thousand in March and April 2021.
Calculated Risk
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Calculated Risk: New Home Sales Decrease to 676,000 Annual Rate in June
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