- Higher interest rates took more of a bite out of home sales than originally thought, with today's New Home Sales release revising August sales 10% lower than previously reported, and June and July down 0.9% and 4.4%, respectively.
- September sales - which weren't reported last month due to the shutdown - of 354K units (seasonally adjusted) were off 6.6% from August's downwardly revised figure and 7.8% below a year earlier, the first time in nearly 2 years sales fell on a Y/Y basis.
- The October report may have made up for it all - 444K in sales is a whopping 25% higher than September. November's print should be especially noteworthy to see if the big October number gets revised lower, or if sales have truly rebounded from a sluggish summer and early fall.
- XHB -0.9%, ITB -0.8%.
Sluggish summer new home sales revised down further
From other sites
at CNBC.com (May 20, 2015)
Video at CNBC.com (May 13, 2015)
Video at CNBC.com (May 5, 2015)
Video at CNBC.com (Mar 17, 2015)
Video at CNBC.com (Mar 16, 2015)
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