The Commerce Department said sales jumped 23.6 percent to a 330,000 unit annual rate from a downwardly revised 267,000 units in May. The sales pace last month was still the second lowest since records started in 1963. The percentage increase was the largest increase since May 1980, and partially unwound the prior month’s historic 36.7 percent decline.
US home sales bounce back in June…24%!! Does anyone care?
July 26, 2010
The US can’t seem to catch a break. I mean, it’s hard to feel sorry for them. They obviously reaped the benefits of the housing boom for quite some time, but still. I think they’ve paid for it– both with their international reputation and their cheque book.
And after a tough May, it seems like the US might be back on track– at least for the time being. The number of houses on the market is at its lowest level in almost 42 years.
According to the Financial Post:
So…it’s kind of good news. But take it with a grain of salt, after a 36.7 percent decline, it’s almost inevitable that the pace of home sales would increase. I know the TSX didn’t budge despite this good news. Aww, the poor US can’t catch a break. They’re actually doing better– but no one cares.