- Best reading since 2022
- Prior was 652K (revised to 664K)
The 20.5% jump in sales was a major surprise compared to the 0.3% decline expected.
- Median sale price 413.5K or +1.9% From Aug 2024 (prev 403.8K or -5.9%)
- Inventories 7.4 months vs 9.0 prior
These numbers are hard to believe as they came before mortgage rates fell below 6.5%. Is this a gamechanger or a statistical blip? The latest home-builder sentiment numbers certainly don’t show this kind of buying surge. The release doesn’t offer any hints at what happened.
At least this underscores the USD rally today.
This article was written by Adam Button at investinglive.com.
