New Home sales rose 0.7% in September, matching expectations. Analysts at Wells Fargo point out year-to-date sales are up 7.2% compared to the same period last year and argue lower mortgage rates are lifting demand. Key Quotes: “The data are highly volatile and subject to heavy revisions, but the trend in new home sales is one of strength. Year-to-date sales are up 7.2% nationally, with the South””the most important region for housing activity””up an even stronger 12.8%.” “Inventories fell in September for the eighth straight month, but the drawdown in supply has yet to spur a pickup in prices. The median new home price was $299K, down 8.8% year-over-year.” “Lower mortgage rates have been closer to a panacea for new home sales than for resales, which are up only 3.9% year-over-year, compared to a 15.5% rise in new sales.” “Mortgage apps have cooled the past month but continue to augur improving sales in coming months.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Breaking: UK PM Johnson calls for snap election on Dec. 12, GBP/USD slumps to 1.28 FX Street 3 years New Home sales rose 0.7% in September, matching expectations. Analysts at Wells Fargo point out year-to-date sales are up 7.2% compared to the same period last year and argue lower mortgage rates are lifting demand. Key Quotes: "The data are highly volatile and subject to heavy revisions, but the trend in new home sales is one of strength. Year-to-date sales are up 7.2% nationally, with the South"”the most important region for housing activity"”up an even stronger 12.8%." "Inventories fell in September for the eighth straight month, but the drawdown in supply has yet to spur a pickup in prices.… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
