- Sales -0.2% vs +2.0% prior (exp -1.5%)
- Median prices up 2.0% y/y
- Inventory at 1.53m (-1.3% m/m but up 11.7% y/y)
The August new home sales data released yesterday was very curious as it showed a 20% surge. There is still some good news but it will be a U-shaped bottom in housing, not a V-shaped one.
