Prior was 661K (revised to 664K)Sales down 0.3% vs +1.5% priorSupply at months 8.4 vs 8.3 months priorMedian sale price $400.5K vs $420.7K last month ($433K a year ago)
This is softer than builder commentary has suggested but they’re mostly referring to the pipeline and that will bear fruit in the summer. What’s clear from the latest data is that builders are scaling down square footage to make homes more affordable in a period of higher interest rates.
This article was written by Adam Button at www.forexlive.com.