New home sales
- New home sales 591K vs. 751K estimate
- New home sales -16.6% vs. -1.7% estimate
- Lowest level since April 2020
- These numbers are contracts assigned in April
- Month supply is 9 months up from 6 months in March.
The 30 year fixed rate is now up to 5.36% and is having an impact on home sales. The monthly payment has increased $450 from the start of the year.
Looking at the chart above, the sales price has returned back to the normal ranges from April 2017 to post pandemic 2020 when the pandemic caused a shift in housing moves.
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