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New US Home Sales Slip. Prices Off Highs, But Still Onerous
New US home sales fell for the first time since February, mixed data released on Wednesday suggested.
The figures, which are volatile and prone to meaningful revisions, showed the annual pace of buying decelerated to 697,000 in June, 2.5% lower than May's downwardly-revised 715,000 rate. March and April's figures were also revised lower.
The pace still counted as robust by pre-pandemic standards, and represented a near 24% pick up versus the same month last year, when prices peaked and the Fed
This, too, is anecdotal, but in my neighborhood new houses are being built on every empty lot and none has stayed on the market more than a week. Many are selling before they are completely finished. Not sure of prices but my insurance company is pushing up my value every year (full replacement value policy).