Posted on 06/28/2023 8:13:19 AM PDT by millenial4freedom
(RTTNews) - The Commerce Department released a report on Tuesday unexpectedly showing a sharp increase in new home sales in the U.S. in the month of May.
The report said new home sales soared 12.2 percent to an annual rate of 763,000 in May after surging 3.5 percent to a revised rate of 680,000 in April.
Economists had expected new home sales to slump 1.2 percent to an annual rate of 675,000 from the 683,000 originally reported for the previous month.
With the unexpected spike, new home sales reached their highest level since hitting a rate of 773,000 in February 2022.
"A tight supply of existing homes, builder incentives, and resilient demand have been supporting new home sales, despite relatively high mortgage rates," said Nancy Vanden Houten, US Economist at Oxford Economics.
(Excerpt) Read more at nasdaq.com ...
Further, did the sales go to Blackrock and are they financed with an interest free loan? Obama sold 60000 homes in Tampa to Blackrock and loaned them the money.
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