New home sales erupted in July, rising 13.9% MoM to 901k units SAAR. At the same time, the S&P CoreLogic home price index (for June) slowed to 4.29% from a revised 4.32% in May.
Yes, new home sales are exhibiting a classic V-shaped recovery from effects of Covid.
Median prices of new home sales declined -1.9% MoM.
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