US new home sales for the month of September 0.603M vs. 0.585M estimate

• Prior month 0.685M revised to 0.677M
• New home sales 0.603M vs 0.585M estimate
• New home sales MoM %: -10.9% MoM
• new home sales YoY -17.6% of 0.732M
• Median sales price up 13.8% YoY at $470,600
• average sale price came in at $517,700
• sales inventory came in at 9.2 months at the current sales rate
• new houses for sale 462K

Although better than expected, the trend is lower for sales.

The 30 year mortgage rate came in this week at 7.15%. Higher rates and higher prices has squeeze the buyers out of the housing market plan that is being reflected in the sales data.

Pulte is seeing a 24% cancellation rate.

\Inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term