On the heels of yesterday's explosive (but not a bubble) Existing Home Sales, May New Home Sales printed 546k - up 2.2% MoM - (against expectation of 523k). This is the highest SAAR new home sales since Feb 2008. By region, the NorthEast soared 87.5% MoM (as historical outlier fabrications remain buried in the data [3]) and The West rose but The Midwest and South dropped 5.7% and 4.3% respectively.
[4]
Notably, year over year... Sales by region are extremely mixed...
- Northeast 0.0%
- Midwest -14.3%
- South +27.3%
- West +27.3%
Charts: Bloomberg
