US May 2020 new home sales data:
- Prior was 623K (revised to 580K)
- Sales up 16.6% m/m vs +2.7% expected
- Supply 5.6 months vs 6.7 prior
Regionally:
- Northeast +45.5% vs +8.7% prior
- Midwest +6.4% vs +2.4% prior
- South +15.2% vs +2.4% prior
- West +29.0% vs -6.3% prior
This number isn't as good as it first appears. Some of the sales clearly moved to May from April.
