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Wednesday, June 24, 2015

JUNE 2015 NEW RESIDENTIAL SALES REPORT FOR MAY. ARE WE HEADED TOWARD RECOVERY AT LONG LAST?

So the Bureau of Census minions released the June 2015 New Residential Sales report with the latest one-month lagging data, the May 2015 data.

The picture looks great. We have been headed in the right way the end of October 2010 although it has been a tough slog.



We're still far from peak sales, quite far. Quarter over quarter and year over year looks solid.



From an average price viewpoint, in True Dollars™, it continues to be the best time to buy. The May 2015 average price is -35.1% below the average price between January 1975 and July 1994.



Builders' confidence has stayed strong.