US New Home Sales Fall 12% YoY In October, Down 9% MoM (Another One 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.

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

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Another housing indicator bites the dust.

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