US New Home Sales

Sales of new U.S. single-family homes increased to the highest level in nearly 1-1/2 years in September as buyers rushed in to take advantage of a decline in mortgage rates. New home sales jumped 4.1% to a seasonally adjusted annual rate of 738,000 units last month, the highest level since May 2023, the Commerce Department's Census Bureau said on Thursday. The sales pace for August was revised down to 709,000 units from a previously reported 716,000 units. Economists polled by Reuters had forecast new home sales, which account for ...

U.S. new-home sales fall in August, but still defy estimates The numbers: Sales of newly built homes in the U.S. dipped in August, as home buyers pulled back in the face of high interest rates and home prices. Sales of newly built homes in the U.S. fell 4.7% to an annual rate of 716,000 in August, from a revised 751,000 in the prior month, the Commerce Department reported Wednesday. The number is seasonally adjusted and refers to how many homes would be built over an entire year if builders continue at the same pace every month. The ...

New-home sales in the US bounced back to the highest level since May 2023 as buyers took advantage of lower mortgage rates and more listings to choose from. Contract signings on new single-family homes increased 10.6% last month to a 739,000 annual rate, reflecting gains in all four major regions, government data Friday showed. The pace beat all estimates in a Bloomberg survey of economists. The pickup in sales suggests the combination of lower mortgage rates and generous sales incentives by builders is starting to take root. ...

Economic data in the August 19 week will take a backseat to the Kansas City Fed’s annual Jackson Hole (August 22-24) which will be brimming with central bankers and offering an opportunity to gauge the outlook for less restrictive monetary policy. In particular, Fed Chair Jerome Powell is likely to send a message to markets that anticipation of a rate cut in September is justified, absent unexpected developments. His speech is scheduled for 10:00 ET on Friday. There is also the Democratic National Convention in Chicago which will run ...