New home sales data from the Census Bureau showed a drop of 8.1 percent on a seasonally-adjusted basis. The decline since the beginning of the year comes to 11 percent.
The northeastern U.S. markets slowed sharply.
In June, and so far in July, we are back to a situation where home shoppers are shopping but a relatively small proportion of them are actually buying. This is explained in some cases by a long lead time (people taking longer to make a decision), and in other cases by a complete reluctance to buy.