| New Home Sales | |||||||||||||||
| |||||||||||||||
Market Consensus before announcement
New home sales fell 2.1 percent in a deceptive November reading where the 464,000 annual sales rate exceeded what were solid expectations but looked soft against a sharply upward revised October, now at 474,000 versus an initial reading of 444,000. Underscoring the October revision was an even sharper upward revision to September, to 403,000 from 354,000. One factor favoring sellers is supply which was very thin at 4.3 months at the current sales rate versus 4.5 months in October. New homes on the market fell 12,000 in the month to 167,000. | |||||||||||||||
Source: Bloomberg
