6/27: MetroIntelligence Economic Update by P. DUFFY

New home sales declined 7.8 percent in May and 3.7 percent year-on-year New home sales dropped for the second straight month in May, this time by 7.8 percent to the lowest level since last December.  Even as mortgage rates have dropped sharply, sales were still down 3.7 percent year-on-year.   The median new home sales price fell 2.7 percent year-on-year to $308,000.  At May’s sales pace, it would take 6.4 months to sell unsold homes, up from 5.9 months in April. https://www.census.gov/construction/nrs/pdf/newressales.pdf   Case-Shiller Index annual increase slipped to 3.5 percent…

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M/I Homes to open new Grandview Yard development

M/I Homes is opening its new Grandview Yard development to the public of Ohio, offering a rare opportunity to buy new single-family homes near Downtown. Read More The Columbus Dispatch www.dispatch.com/news/20190614/mi-homes-to-open-new-grandview-yard-development-saturday

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