BREAKING: US new home sales plummeted -11.3% month-over-month to 619,000 in May, well below the estimated -0.2% decrease.
— The Kobeissi Letter (@KobeissiLetter) June 27, 2024
This was the largest decline since September 2022 when new home sales fell by ~14%.
Year-over-year sales dropped by a whopping 16.5%, the most since… pic.twitter.com/FkdjrCx15W