by Calculated Danger on 10/24/2024 10:00:00 AM
The Census Bureau stories New Dwelling Gross sales in September had been at a seasonally adjusted annual charge (SAAR) of 738 thousand.
The earlier three months had been revised down.
Gross sales of recent single-family homes in September 2024 had been at a seasonally adjusted annual charge of 738,000,
in keeping with estimates launched collectively in the present day by the U.S. Census Bureau and the Division of Housing and City
Growth. That is 4.1 % above the revised August charge of 709,000 and is 6.3 % above the September 2023 estimate of 694,000.
emphasis added
Click on on graph for bigger picture.
The primary graph reveals New Dwelling Gross sales vs. recessions since 1963. The dashed line is the present gross sales charge.
New residence gross sales had been near pre-pandemic ranges.
The second graph reveals New Dwelling Months of Provide.
The months of provide decreased in September to 7.6 months from 7.9 months in August.
The all-time report excessive was 12.2 months of provide in January 2009. The all-time report low was 3.3 months in August 2020.
That is properly above the highest of the traditional vary (about 4 to six months of provide is regular).
“The seasonally-adjusted estimate of recent homes on the market on the finish of September was 470,000. This represents a
provide of seven.6 months on the present gross sales charge. “
Gross sales had been above expectations of 710 thousand SAAR, nevertheless, gross sales for the three earlier months had been revised down. I will have extra later in the present day.