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.