September new home sales data:
- Prior was 713K (revised to 706K)
- Sales -0.7% vs -1.6% exp
- Median sale price $299,400 vs $328,300 a year ago
- 5.5 months supply vs 5.5 months prior
This is pretty much bang-on estimates. The fall in sales prices is good and bad. There's stronger demand at that price point and it could mean that builders are moving downmarket but it could also mean less demand at higher, more-profitable price points.
