Sales of new single-family houses in June 2016 were at a seasonally adjusted annual rate of 592,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.
This is 3.5 percent above the revised May rate of 572,000 and is 25.4 percent above the June 2015
estimate of 472,000.
These numbers, year-on-year are simply off the charts.
Midwest sales were up 44% year-on-year, in the Northeast up 30%, in the West up 24%. in the South is up 21.
This is not what not what a recession looks like.