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New Home Sales Surge Back To Pre-Pandemic Levels

US DATA
  • New home sales were far stronger than expected in May, rising to 763k (cons 675k) from 680k (initially 683k), translating to a 12.2% M/M increased after 3.5%.
  • There wasn’t a standalone region, with sizeable monthly increases across the four major regions.
  • The continued pop higher in sales takes them back to pre-pandemic levels, after a much sharper recovery than that seen in the existing home sales segment.

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