The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential sales statistics for November 2021: {chart} Sales of new single‐family houses in November 2021 were at a seasonally adjusted annual rate of 744,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 12.4 percent (±17.2 percent)* above the revised October rate of 662,000, but is 14.0 percent (±20.5 percent)* below the November 2020 estimate of 865,000. Sales Price The median sales price of new houses sold in ... (full story)

The Census Bureau reports New Home Sales in November were at a seasonally adjusted annual rate (SAAR) of 744 thousand. The previous three months were revised down significantly. Sales of new single?family houses in November 2021 were at a seasonally adjusted annual rate of 744,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 12.4 percent above the revised October rate of 662,000, but is 14.0 percent below the November 2020 estimate of 865,000. The first graph shows New Home Sales vs. recessions since 1963. The dashed line is the ... (full story)

Having rebounded from the mid-year bloodbath, analysts expected new home sales to accelerate further in November. They were right but there were huge historical revisions that left the final SAAR a big miss. New home sales rose 12.4% MoM (smashing the +3.4% MoM expected) BUT that was because October was revised from +0.4% MoM to -8.4%!!! The series saw huge downward revisions over the past 3 months... {chart} New home sales remain down 14.0% year-over-year. This left the SAAR at 744k, well below the 770k expected, but, thanks to the huge revisions, still the highest since April 2021...{chart} Median and average home ... (full story)