US New Home Sales Fall 12% YoY In October, Down 9% MoM

Another Indicator Bites The Dust

The good news? US GDP rose 3.5% QoQ, even though Personal Consumption was lower than expected at 3.6% and lower than September’s growth.

The bad news? New home sales fell 8.9% MoM in October.

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New home sales declined 12% YoY, tied for the worst reading since 2011.

https://confoundedinterestnet.files.wordpress.com/2018/11/nhsyoyovt18.png

Yes, as The Fed withdraws monetary stimulus, home building companies are taking the Nestea plunge.

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Another housing indicator bites the dust.

https://confoundedinterestnet.files.wordpress.com/2018/10/powellfrown.jpg

Source: Confounded Interest

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2 thoughts on “US New Home Sales Fall 12% YoY In October, Down 9% MoM”

  1. Truett Neathery

    The local real estate hens continue to listum high because, you know, if you don’t get in the game now, you will missout on the boom ! i THINK i HEARD THAT BEFORE,

    Like

    1. Bone Fish Post author

      Yep, one of their favorite pitches this year has been ‘buy now before rates go higher’… while ignoring the fact that higher rates chill house prices.

      Like

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