In a pleasant surprise for economists, both new and existing home sales picked up last month. The National Association of Realtors announced a 1.1% gain for resales, with the average house for sale spending only 27 days on the market. New home buying increased 2.9% in May, resulting in an annualized gain of 8.9%. The average sale price for a new home was $406,400, a record.1

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1 – foxbusiness.com/features/2017/06/23/new-home-sales-rise-in-may-as-prices-hit-record-level-update.html [6/23/17]