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AUDIO: Lawrence Yun’s Reaction to May New Home Sales

The Commerce Department reported today that sales of newly built homes rose 2.2% in May to a seven-year high. This after our report yesterday that May existing-home sales* increased 5.1% to their highest pace in nearly six years.

Listen to what NAR chief economist Lawrence Yun has to say about today’s report and what it means for the overall housing market.

 

*Existing-home sales typically make up around 90% of the market.