Today, the busy minions of the Bureau of the Census released the New Residential Sales report. The report consists of the number of houses sold, mostly.
Such a report is meaningless without context. To understand what is happening, you need context. I give you that context.
With units, what you need to know is how many houses have been built, sold, or are under construction and the like relative to likely buyers. I define likely buyers as Americans age, 20 and old.
As you can see from the above charts, the new residential construction picture has gotten much better. That said, you can see how far new residential construction is from normal. The state of new residential construction reveals how far Americans have been from a recovery much less normalcy.
In these charts, positive numbers reveal a worsening situation.
However, if you have the means, these have been the best times to buy. Prices continue to fall with little exception. Notable exception are new houses sold in the highest priced category. Likely, current dollar stock market prices have been fueling that buying.