New Home Sales data was released this morning and give support to the idea that the housing market it turning around. Sales of new single-family houses in May 2012 were at a seasonally adjusted annual rate of 369,000. That is 19,000 more than expected and 26,000 more than the prior data released for April 2012.
Year over year, the numbers look even better. The 369,000 number is a 19.8% ahead of the May 2011 number of 308,000.
The median sales price of new houses sold in May 2012 was $234,500 and the average sales price was $273,900. The prices fluctuate somewhat dramatically based on location.
Does this new home sales data make you a believer that turnaround is completely underway? Do you believe this is just a blip before we head back lower?
With interest rates low, staying low and very likely moving lower will new buyers step up to buy new homes anytime soon?
Chime in and let us know what you think!
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