Sales of new homes dip again
Today, the released its monthly for May showing a monthly decline with sales falling 2.15% since April but increasing 13.52% above the level seen a year earlier to a historically low 319K SAAR units.
These results, continue to indicate that the nation's housing markets are firmly entrenched in a double-dip and come fully in-line with the other pitiful housing data-points .
It's important to recognize that the has now fallen to a new series low at 166K units, lowest level seen in in at least 47 years while the increased to 9.2.
The monthly supply declined to 6.2 months while the median selling price declined 3.43% and the average selling price declined a notable 5.23% from the year ago level.
The chart above shows the extent of sales decline to date (click for full-larger version).
