New Home Sales Come In Much Better Than Expectations

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Photo: Iduke, Wikimedia Commons

The number is out, and it’s good.New home sales grew at a 5.7% month to month, coming in at at 317K annualized rate.

This is much better than the expectations of 1.7% growth.

Anyway, now you know why the homebuilding ETF has surged by over 30% since the beginning of October.

 

Original post: There are barely any new home sales happening in America, but given the recent rally in the homebuilders, this might be interesting.

Analysts are expecting new home sales at a 300K annualized clip in September. That would be a 1.7% sequential jump.

More to come when the number is out at 10.00.

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