U.S. Housing

Some conflicting data out there on the sale of new homes and re-sales.  New home sales reached a two-year high in May, highlighted by a 37% jump in the Northeast.  Sales were also up in the South (12.7%), while the Midwest (-10.6%) and the West (-3.5%) were down.   According to the full article from Bloomberg here “some economists warned that the weaker job market has also started to affect some home sales.  Sales of previously occupied homes fell in May to a seasonally adjusted sales rate of 4.55 million after nearly touching a two-year high in April.  Still, re-sales have risen 9.6 per cent from the same month last year.  Hiring slowed sharply in April and May, raising concerns about the strength of the recovery.  Employers have added an average of only 73,000 jobs a month in April and May.. much lower than the average of 226,000 added in the first three months of this year.”

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