US: June’s new and existing home sales and advance report on durable goods

Published on Market Watch 666, by RJS, July 28, 2013.

Two of the widely watched reports this week were on June sales of houses … the first we’ll look at is on sales of previously owned homes from data provided by National Association of Realtors (NAR) and is based on home sales data from a representative sample of 160 MLS Boards;  

the NAR reported that existing homes sold in June at a seasonally adjusted annual rate of 5.08 million, up 15.2% from the 4.41 million-unit rate of last June but down 1.2% from the 5.14 million rate homes sold at in May, which was revised from the 5.18 million pace originally reported … sans the annualization and adjustments, 501,000 actual home sales were reported for June, down from 514,000 in May, but up from 463,000 homes that sold in June of last year … completed transactions on single family homes accounted for a seasonally adjusted 4.50 million of the annualized total, and these were also down 1.1% from May but up 14.5% from a year ago … the adjacent graph from Bill McBride shows the annualized sales rate that NAR reports plotted monthly since 1993; you can see that except for the spike in sales caused by the first time home buyer’s credit, home sales are still near the post housing bust high …

… (full long text full of hyper links).

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