After June's continued resurgence in US home sales, July is expected to see a significant slowdown in that recovery, with new home sales expected to rise 1.8% MoM. Instead, new home sales soared a stunning 13.9% MoM. This means new home sales in the US rose 36.3% YoY - the most since 1996...
Driven by and 81.4% increase in Midwest New home sales, highest since Jan 1992
New Home Sales SAAR is 901k (against expectations of 790k), the most since Jan 2007...
Median new home price rose 7.2% y/y to $330,600; average selling price at $391,300
Is this more evidence of the mass exodus from cities?