US new home sales 0.679M versus 0.723M estimate

New home sales in the US

  • Prior month 0.719M revised from 0.759M previously reported
  • New home sales -5.6% 
  • US homes for sale at the end of October 0.439 million units versus 0.433 million units in September
  • New home sales supply 7.8 months in October from 7.2 months in September
  • Median sale price $409,300 which is down -17.6% from October 2022
  • average sale price of $487,000 versus $543,300 from October 2022

Regionally

  • Northeast -13.2%
  • Midwest -16.4%
  • South +2.1%
  • West -23.3%

Yields move lower after the report with the

  • 2 year at 4.924% -3.6 basis points.
  • 10-year is at 4.433% down -5.1 basis points.

Major US stock indices are mixed:

  • Dow industrial average -50 points or -0.14% of 35339
  • S&P index -5.61 points or -0.12% at 4553.30
  • NASDAQ index unchanged at 14250.37

This article was written by Greg Michalowski at www.forexlive.com.

0.679M0.723MestimateHomeSales
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