US new home sales for the month of September 0.603M vs. 0.585M estimate | Forexlive
- Prior month 0.685M revised to 0.677M
- New home sales 0.603M vs 0.585M estimate
- New home sales MoM %: -10.9% MoM
- new home sales YoY -17.6% of 0.732M
- Median sales price up 13.8% YoY at $470,600
- average sale price came in at $517,700
- sales inventory came in at 9.2 months at the current sales rate
- new houses for sale 462K
Although better than expected, the trend is lower for sales.
The 30 year mortgage rate came in this week at 7.15%. Higher rates and higher prices has squeeze the buyers out of the housing market plan that is being reflected in the sales data.
Pulte is seeing a 24% cancellation rate.
Inflation