by Calculated Danger on 10/24/2024 10:00:00 AM
The Census Bureau stories New House Gross sales in September had been at a seasonally adjusted annual fee (SAAR) of 738 thousand.
The earlier three months had been revised down.
Gross sales of latest single-family homes in September 2024 had been at a seasonally adjusted annual fee of 738,000,
based on estimates launched collectively right now by the U.S. Census Bureau and the Division of Housing and City
Growth. That is 4.1 % above the revised August fee 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 House Gross sales vs. recessions since 1963. The dashed line is the present gross sales fee.
New house gross sales had been near pre-pandemic ranges.
The second graph reveals New House Months of Provide.
The months of provide decreased in September to 7.6 months from 7.9 months in August.
The all-time document excessive was 12.2 months of provide in January 2009. The all-time document 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 latest 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 fee. “
Gross sales had been above expectations of 710 thousand SAAR, nonetheless, gross sales for the three earlier months had been revised down. I am going to have extra later right now.
