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Economy

Economic Data (USA)

Friday, July 25, 2008

New Home Sales for June 2008

The June 2008 New Home Sales report was released this morning:

Predicted: 505,000

Actual New Home Sales: 530,000

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Change from One Month Previous: -0.6%

Change from One Year Previous: -33.2%

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Median Price for a New Home during June: $230,900

Average Price for a New Home during June: $298,600

Click here for historical prices and a chart.

Compiled jointly by the U.S. Commerce Department and the U.S. Department of Housing and Urban Development, the monthly New Home Sales report measures the number of newly-built homes with committed buyers for a given month.

The "predicted" figure is what economists and Wall Street forecasters were expecting, while the "actual" is the true or real figure.

The New Home Sales report is watched by economists and investors because it offers insight into the state of the U.S. housing market, and also provides data that can be used to predict sales of large household furniture and appliances like refrigerators, air conditioners and microwave ovens.

Click here to view the full Commerce Department report (PDF).

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2 Comments:

Anonymous Emily the Drapery Designer said...

I'm not sure why some of those government reports have sounded so optimistic. I'm not a big fan of lowering standards just to make one feel better. That's not an achievement. Just tell it like it is.

Monday, July 28, 2008 4:29:00 PM  
Anonymous Stock Market Blog said...

> have sounded so optimistic...

This particular report on New Home Sales wasn't exactly optimistic. Sales are down more than 33% year over year, which doesn't bode well for the struggling housing sector.

Monday, July 28, 2008 8:55:00 PM  

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