New home sales rose 10.7 percent in the United States in May, much to the surprise of analysts, according to a Labor Department monthly survey on Friday, which is considered highly volatile and regularly undergoes major reviews. In May, 696,000 new homes were sold annually, up from 629,000, up from 591,000 previously announced.
The volume of new homes sold far exceeds the expectations of analysts, who have bet on 595,000 transactions. However, it remains 5.9% lower than the level of May 2021. Last month, the average price of a new home remained very high at $ 449,000 and the average sale price was $ 511,400. $ 570,300 from the highest level of the previous month.
«Sales data may be volatile են subject to significant revisionssays Ian Shepherdson of Pantheon Macroeconomics. «These data are irrational. The margin of error of the May survey is huge, +/- 18.9%, միշտ we have always been wary of the reported magnitude of the April decline, which has now been revised.“, – also qualifies the analyst.
«But the return in May does not change the overall picture. The housing market is turning around, և sales will fall sharply in the next few months.“While mortgage rates have doubled in recent months, the Fed has raised interest rates overnight,” he said.
Source: Le Figaro
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