US May new home sales 696K vs 588K expected

• Prior was 591K (revised to 629K)
• Sales change +10.7% vs -16.6% prior
• Supply 7.7 months vs 8.3 months prior
• Median price 449K vs 390.4K a year ago

KB Home and Lennar reported earnings Earnings A company’s earnings represent its profits or net benefits as a result of its operation.Earnings are the net benefits of a corporation's operation. Earnings can be calculated as EBIT, i.e. earnings before interest and taxes, and EBITDA, i.e. earnings before interest, taxes, depreciation, and amortization.Earnings are valuable tools for investors of company shares as they can often highlight a company’s financial standing and performance. Better performances can result in strengthened share price A company’s earnings represent its profits or net benefits as a result of its operation.Earnings are the net benefits of a corporation's operation. Earnings can be calculated as EBIT, i.e. earnings before interest and taxes, and EBITDA, i.e. earnings before interest, taxes, depreciation, and amortization.Earnings are valuable tools for investors of company shares as they can often highlight a company’s financial standing and performance. Better performances can result in strengthened share price Read this Term this week and the commentary highlighted a slowdown but both were still optimistic about the outlook and KHB reiterated guidance for the year. US 30-year yields are down nearly 30 bps from the peak last week.

This is an important indicator and a sign that the optimism we've seen from home builders isn't exactly misplaced. Granted, sales have come down a lot but some of that is builders throttling because of supply chain issues and/or not selling until the home is nearly complete.