Monthly New Residential Sales, October 2022

Monthly New Residential Sales, October 2022

From census.gov

The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential sales statistics for October 2022. Sales of new single‐family houses in October 2022 were at a seasonally adjusted annual rate of 632,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 7.5 percent (±20.8 percent)* above the revised September rate of 588,000, but is 5.8 percent (±19.6 percent)* below the October 2021 estimate of 671,000. Sales Price The median sales price of new houses sold in ... (full story)

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Comment #1
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Nov 23, 2022 10:07am Nov 23, 2022 10:07am

DaJoWaBa
Joined Sep 2018 | Status: Member | 590 Comments

Taking all the US data points today it is possible to hypothesise the following:

Inflation and Interest Rates have not yet dented demand for goods, even if businesses are running down the inventory built up to counter the global logistical bottlenecks and pre-empting of higher inflation down the track.

The demand may well be financed by higher debt.

Rhetorical Q: What will future datapoints show to prove or disprove this theorem?

Comment #2
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Nov 23, 2022 10:20am Nov 23, 2022 10:20am

Banditten
Joined Sep 2019 | Status: Member | 1041 Comments

House sales are still lower than 2019-2021. But it did come in to the high side. But the statistics doesnt say anything about pricing which is to me the more interesting.

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Posted: Nov 23, 2022 10:01am
Submitted by:
Newsstand

Category: Medium Impact Breaking News

Comments: 2 / Views: 1,185
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USD New Home Sales

Monthly New Residential Sales, October 2022

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