New Home Sales Fell 32.8%

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

new-home-sales-may-09
Via Barron’s Econoday

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Source:
NEW RESIDENTIAL SALES IN MAY 2009
U.S. Census Bureau and the Department of Housing and Urban Development.
JUNE 24, 2009
http://www.census.gov/const/newressales.pdf

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