The downward revisions dominated the narrative…
This pushed the New Home Sales SAAR to 745k – the highest since April.
There were 389,000 new homes for sale as of the end of October, the most in 13 years — though 28% of those houses were not yet started. At the current sales pace, it would take 6.3 months to exhaust the supply of new homes, compared with 3.6 months at the start of the year.
Sales SAAR has been dropping as prices have soared…
As Mean and Median home prices hit record highs…
How are you going to let these homeowners down gently Mr.Powell?
Wed, 11/24/2021 – 10:28
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Author: Tyler Durden