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New Home Sales Rebound From April Collapse As Median Price Hits All Time High

Courtesy of ZeroHedge. View original post here.

Following the modest bounce in existing home sales (and disappointment in starts and permits), new home sales bounced in May to 610k (after plunging 11.4% in April, now revised to a 7.9% drop).

For now affordability doesn’t matter…

Of particular note is that median new home prices surged to $345,800 – an all-time record high.

In fact, a closer look shows that home prices are exploding higher…this is the fastest 3-month spike in prices since Jan 2011… (and up 16.8% YoY)

Of course, homebuilders stocks don’t care about any of this…


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