at Calculated Risk on 11/26/2024 10:48:00 AM
Today, in the Calculated Risk Real Estate Newsletter: New Home Sales Decrease Sharply to 610,000 Annual Rate in October
Letter excerpt:
Important: Sales in October were impacted by the hurricanes. The south region was down 27.7% year-over-year (“South” includes Florida, the Carolinas and Georgia – states hit hardest by hurricanes Helene and Milton). Excluding the South, sales were up about 8% year-over-year.
The Census Bureau reported New Home Sales in October were at a seasonally adjusted annual rate (SAAR) of 610 thousand. The previous three months were revised down, combined.
…
The next graph shows new home sales for 2023 and 2024 by month (Seasonally Adjusted Annual Rate). Sales in October 2024 were down 9.4% from October 2023.New home sales, seasonally adjusted, have increased year-over-year in 17 of the last 19 months.
There is much more in the article.