New Home Sales Surge As Prices Plunge. Rates At 8%

New home sales exploded higher in September, data released on Wednesday in the US showed. The 759,000 annual rate exceeded every estimate from the five-dozen economists who ventured a guess. The highest forecast was 750,000. It was the briskest pace since the onset of the Fed's tightening campaign. The MoM increase, 12.3%, was the largest in over a year. Sales rose in every region last month, including a 22.5% jump in the Northeast and a near 15% surge in the "affordable" South. The big ga

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One thought on “New Home Sales Surge As Prices Plunge. Rates At 8%”

My daughter just bought a house here in Kansas. Every one she looked at sold for over asking and most on the market less than 36 hours, hers less than 12.