by Calculated Risk on 11/26/2024 10:48:00 AM

Today, in the Calculated Risk Real Estate Newsletter: New Home Sales Decrease Sharply to 610,000 Annual Rate in October

Brief excerpt:

Important: Sales in October were impacted by the hurricanes. The south region was down 27.7% year-over-year (“South” includes Florida, the Carolinas and Georgia - states hit hardest by hurricanes Helene and Milton). Excluding the South, sales were up about 8% year-over-year.

The Census Bureau reported New Home Sales in October were at a seasonally adjusted annual rate (SAAR) of 610 thousand. The previous three months were revised down, combined.
...
The next graph shows new home sales for 2023 and 2024 by month (Seasonally Adjusted Annual Rate). Sales in October 2024 were down 9.4% from October 2023.

New home sales, seasonally adjusted, have increased year-over-year in 17 of the last 19 months.

There is much more in the article.