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July 28, 2016

Six Down, Six to Go

Research and Analysis

We're essentially half way through 2016. How are we doing? So far, we're currently 147,000 home sales ahead of last year in June as you can see in our interactive housing tracker below.

Existing–home sales were up to their highest level in over 9 years to a seasonally adjusted annual rate of 5.57 million in June. This marked the fourth consecutive month of rising existing home sales, beating out analyst expectations. And new home sales hit their highest level in over 8 years at a seasonally adjusted annual rate of 592,000 units.

Currently existing home sales are up 0.1% and new home sales are down 34% compared to 2007 through June on a non–seasonally adjusted basis.

With six months behind us, and six more months of home sales data in front of us, we're still expecting the best home sales in a decade.

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