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    Analysis

    July 25, 2014

    New Home Sales Return to Trend with Drop of 8.1%

    Written by Sandy Williams

    New home sales were disappointing in June, dropping 8.1 percent below the revised rate May rate of 442,000 to a seasonally adjusted annual rate of 406,000, according to estimates by the US Census Bureau and Department of Housing and Urban Development.

    The drop is “a return to trend rather than a change of direction,” says National Association of Home Builders (NAHB) analyst Robert Denk. The underlying trend since 2012 has been upward, said Denk, despite volatility in the second half of 2013 and early 2014.

    Sandy Williams

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