New home sales surged 5.7% m/m to 313,000 in September, which was much stronger than the 300,000 expected by consensus after sales slipped 0.3% to 296,000 the month before. Sales in the south and the west reported monthly gains (up 11.2% and 9.7%, respectively), while the northeast and the midwest saw declines (down 4.2% and 12.2%, respectively). Total new home sales are down 0.9% from last year, on sharp year-over-year declines in the northeast and midwest (down 34.3% and 14%, respectively). The south was up 9.8% over last September while the west was flat. The months’ supply of homes dropped to 6.2 months from 6.6 months in August, and near the 5.5 to 6 month historic average. The median price fell to $204,400 from $210,900 in August, and is down 9.9% over last September. The stronger than expected headline reading will likely support markets today as they await European summit news. 


The posts on this blog are opinions, not advice.
Please read our disclaimers for Ratings Services, Indices, Equity Research, Securities Evaluations and Risk Solutions.

Post a Comment

Thank you for submitting a comment. We ask you to use the comment guidelines to promote thoughtful and productive discussions. Your comment will be approved before it will be posted. Thank you for your patience.

Required fields are marked *


You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

  • Categories

  • Recent Comments

  • Tags