US October 2018 new home sales data

  • Prior was 553K (revised to 597K)

  • Single family home sales -8.9% vs +1.0% prior

  • Sales -8.9%

  • Prior sales revised to +1.0% from -5.5%

  • Median sale price $309,700 vs $319,500 prior

  • Homes for sale 336K vs 322K prior

  • New home supply 7.4 months versus 6.5 months prior

The headline looks terrible but there was a big upward revision to the prior.

Home builders have been hammered this year and you can see why. Prices and volumes are both falling while tariffs on lumber and other materials have driven up costs materially.