US New Home Sales Fall 7.7% YoY In November, But Rise 16.9% MoM, Most Since 1992 (Months Supply Still Elevated, Median Price Falls)

Let’s start with the +16.9% MoM number, a more cheery, pop the champagne bottle headline.

https://confoundedinterestnet.files.wordpress.com/2019/01/nhsstatsnov18-1.png

But on a YoY basis, new home sales fell 7.7% in November.

https://confoundedinterestnet.files.wordpress.com/2019/01/nhsmb30.png

Months supply of new home sales fell in November, but are still at elevated levels.

https://confoundedinterestnet.files.wordpress.com/2019/01/monthssupply.png

And the median price of new home sales fell in November as The Fed’s normalization grabs the housing market with its icy grip.

https://confoundedinterestnet.files.wordpress.com/2019/01/nhsmedpricenov18.png

“The weather started getting rough, the tiny ship was tossed….”

https://confoundedinterestnet.files.wordpress.com/2019/01/gilligansisland.png

Source: by Anthony B. Sanders | Confounded Interest

***

November New Home Sales Surge By The Most Since 1992

https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/teaser_desktop_2x/public/2019-01/2019-01-31_7-07-10.jpg?h=db43e95e&itok=KtWHgQee

 

…as the median price plunged to $302,400 – the lowest since Feb 2017…