New Home Sales Crush Forecasts, Soaring to 14-Year High; Serious Delinquencies Grow

Once again new home sales exceeded expectations, this time by a lot. Sales of newly built homes rose 4.8 percent in August, to a seasonally adjusted annual rate of 1.011 million. That puts sales an astounding 43.2 percent higher than they were the previous August. It was the sixth straight month of rising sales. After such a string of increases, analysts had expected sales to pull back a bit. Those polled by Econoday were looking for the number to come in between 820,000 and 950,000 with a consensus of 875,000. Perhaps they would have come up with a better forecast had they known that the July number from the Census Bureau and Department of Housing and Urban Development, would be upgraded substantially. The original estimate of 901,000, was revised to 965,000. On a non-adjusted basis, sales
New Home Sales Crush Forecasts, Soaring to 14-Year High; Serious Delinquencies Grow
New Home Sales Crush Forecasts, Soaring to 14-Year High; Serious Delinquencies Grow

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *