Macro: New Home Sales

Aerial View of Buildigns

Image Source: Pexels


New home sales have been in an uptrend for the past 15 months. That trend is slowing and has perhaps come to an end. In October, homes sold at a rate of 679,000 units per year or just above the long term average of 656,000 units.

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The median price continues to come down. Prices dropped just over 3% from September and are -17.6% from a year ago. October 2022 was the highest median price ever recorder for new home sales in the US. Therefore, the -17.6% drop is likely the max yoy benefit to inflation numbers that we will receive from home prices.

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Inventories remain elevated.

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Disclaimer: This information is presented for informational purposes only and does not constitute an offer to sell, or the solicitation of an offer to buy any investment products. None of the ...

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