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Nathan Pierce

Loan Officer

NMLS ID 12920

801-272-0600 nathan@advancedfunding.com

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Featured Chart - May New Home Sales Disappoint

Featured Chart - May New Home Sales Disappoint

June 25th, 2019 | Mortgage News

May New Home Sales Disappoint

Sales of new homes fell by nearly 8% in May from April by to an annual rate of 626,000 units, below the 683,000 expected. From May 2018 to May 2019, sales declined 3.7%. Inventories are now just above normal rates of 6 months, currently at 6.4 months. The median price of a new home sold in May was $308,000, 2.7% lower than a year ago. New home sales declined in the Northeast and West with gains seen in the Midwest and South.
 

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