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.

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

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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….”

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Source: by Anthony B. Sanders | Confounded Interest

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November New Home Sales Surge By The Most Since 1992

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

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