Details of the September 2015 US new home sales data report 26 October 2015
- Prior 0.552m. Revised to 0.529m
- Signe family home sales -11.5% vs +5.2% prior m/m
- Supply 5.8 months vs 4.9 months prior
- Median sale price $296,000 vs $289,000 m/m
- +13.5% y/y from $261,500
USDJPY dropped to 120.61 on the lowest sales since Nov 2014
Last week we saw decent numbers coming out of the housing sector but it culminates in the new sales numbers. Permits need to translate into starts which need to translate into sales. The weakness in this data, taken with the data last week suggests that sentiment to start building may be high but house buyers aren't so keen. I wouldn't say we're close to anything like a collapse in house buying but if the Fed wanted improvement here, they haven't got it
I'll also add that there was a big loss in the Northeast, which fell 61.8% vs a 24.1% gain last month. That may be some further skew over some new tax rules that came into play. We saw similar swings in this region on the starts and permits numbers
US new home sales
