Positives 1)New home sales in May jumped to 696k, about 100k more than anticipated and April was revised up by 38k to 629k. The mix really stood out as there were sharp drops in the Northeast and Midwest m/o/m offset by jumps in the South and out West. The number of homes for sale rose but not to the same extent as sales and months’ supply fell to 7.7 from …
[Read more...] about Succinct Summation of the Week’s Events – 6/24