by Threat calculated on 23/11/2022 10:08:00
The Census Bureau studies New house gross sales in October have been at a seasonally adjusted annual fee (SAAR) of 632,000.
The earlier two months have been revised down.
Gross sales of recent single-family houses in October 2022 hit a seasonally adjusted annual fee of 632,000, in response to estimates launched collectively as we speak by the US Census Bureau and the Division of Housing and City Growth. That is 7.5% above September’s revised fee of 588,000, however 5.8% under the October 2021 estimate of 671,000.
Click on on the graphic to enlarge the picture.
The primary chart reveals new house gross sales versus recessions since 1963. The dotted line represents the present gross sales fee.
New house gross sales are under pre-pandemic ranges.
The second graph reveals months of provide of recent houses.
Months of provide decreased in October to eight.9 months from 9.4 months in September.
The all-time excessive was 12.1 months of provide in January 2009. The all-time excessive was 3.5 months, most just lately in October 2020.
That is effectively above the excessive finish of the conventional vary (round 4-6 months provide is regular).
“The seasonally adjusted estimate of recent houses on the market on the finish of October was 470,000. This represents 8.9 months of provide on the present gross sales fee.”
The final chart reveals NSA gross sales (month-to-month gross sales, unadjusted annual fee).
In October 2022 (pink column), 48,000 new houses have been bought (NSA). Final 12 months, 51,000 houses have been bought in October.
The October all-time excessive was 105,000 in 2005, and the October all-time low was 23,000 in 2010.
It was above expectations, however gross sales for the earlier two months have been revised down. I am going to have extra later as we speak.