New Home Sales beat expectations thanks to the massive monetary stimulus in the system that The “Hawkish” Fed seems to not want to withdraw. Aka, Greenman!
(Bloomberg) — Aug. new home sales rose 1.5% to 740,000 annual rate
Forecast range 650k-784k from 60 estimates, median 715k
New home sales rose 11k in Aug. from prior month, the Census Bureau said
Median new home price rose 20.1% y/y to $390,900; average selling price at $443,200
New home sales on pace for 842k this year compared to a 2020 total of 822k
Houses for sale in Aug. rose 3.3% m/m to 378,000
Months’ supply at 6.1 in Aug. compared to 6.0 prior month
The Commerce Department is 90 percent confident that new residential sales were between 644,540 and 835,460.