Keeping you up to date on the latest data releases.
- New Home Sales
New single-family home sales grew a sizeable 6.6 percent in September following a 1.1 percent increase in August. The annual sales pace was boosted to 307,000 units, a pace slightly above—but by no means comfortably above—record lows recently reached this year. Several more reported climbs will be needed before new home sales can definitively be declared above the low-water mark. The current sales pace, after all, remains more depressed than at any point prior to the current housing downturn, and sales are 21.5 percent slower than the year-ago pace. The median sales price of new single-family homes rose for a second straight month, climbing 1.5 percent in September and lifting prices 3.3 percent on a year-over-year basis. Inventory of new single-family homes for sale dropped 1.0 percent further over the month and in fact has not seen a single increase since January. Months’ supply of new homes eased from 8.6 months down to 8.0 at the current sales rate, further off May?s recent high of 9.2 months.