Leave the roller coaster to the theme parks. This article on DailyFinance.com by Joseph Lazzaro reports on the ups and downs of new-home sales that have made for an uneven spring and the recent plunge the new-home market took in May gives concern for lack luster sales for summer.
May’s 33% plunge in new-home sales to a record-low 300,000 unit annual rate closed out a roller-coaster psring season for new-home purchases. The month’s swoon followed a revised 14.6% increase in April. May’s rate was the lowest for new homes since the U.S. government started keeping records for the statistic in 1963. A Bloomberg srvey had forecast new-home sales would fall to a 400,000-unit annual rate in May.
See full article from DailyFinance: http://www.dailyfinance.com/story/real-estate/may-new-home-sales-record-low/19527612/?icid=sphere_copyright
