The “Affordability Wall”: New Home Sales Decline 5.3% MoM In June (-2.4% YoY)

By Anthony B. Sanders

Median Price Declines AGAIN At -4.2% YoY

The most recent existing home sales number were disappointing, showing the “affordability wall” facing American households.

ehspryoywages.png

Now comes the bad news. According to the Commerce Department, new home sales declined 5.2% MoM in June, mostly in the Midwest (likely the LeBron James signing with the LA Lakers effect).

nhsstatjun18

Median price for new home sales fell for the second month in a row as new home sales YoY dropped to 2.4%.

nhsyoyrrrr

Ah, the “affordability wall” appears!

ehswsah

The good news? Since December 2017, we are seeing more new homes sold in the $150k-$299k range.

affordwall.png

We are seeing more new home sales in more affordable ranges, driving down the median price.

515XYJ2JB1L._SY445_

Support 100% ad-free Biiwii.com by making a donation of your choice!

Or better yet, subscribe to NFTRH Premium for an in-depth weekly market report, interim updates and NFTRH+ chart and trade ideas to get even more bang for your buck. You can also keep up to date with plenty of actionable public content at NFTRH.com by using the email form on the right sidebar. Or follow via Twitter @BiiwiiNFTRH, StockTwits or RSS. Also check out the quality market writers at Biiwii.com.

Published by

Gary

NFTRH.com & Biiwii.com