June New Residential Single Family Home Sales declined by -8.4%, or 350,000 annualized sales. This monthly percentage change has a ±12.4% error margin. May's single family new home sales were significantly revised down, from +7.6% to +6.7%, or 382,000 annualized sales. April was revised up to 358,000 from 343,000 as was March, to 352,000.
The NAR released their June 2012 Existing Home Sales. Existing home sales plunged -5.4% and inventories ticked up to 6.6 months of supply. May existing home sales were revised to no change from April. Existing homes sales have increased 4.5% from June of last year.
In January, New Residential Single Family Home Sales decreased by -0.9%, or 321,000 annualized sales. This report has a ±16.6% monthly margin of error. December single family home sales were significantly revised, from 307,0000 to 324,000 new homes, a +5.4% revision.
The S&P Case Shiller home price index shows a -4.1% decline from a year ago over 20 metropolitan housing markets and a -3.7% decline for the top 10 housing markets from July 2010.
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