Read the story here. Advertise at Before It's News here.
Profile image
By Freedom Bunker
Contributor profile | More stories
Story Views
Last hour:
Last 24 hours:

US New Home Sales Crashed In July, Lowest SAAR Since Jan 2016

% of readers think this story is Fact. Add your two cents.

US New Home Sales Crashed In July, Lowest SAAR Since Jan 2016

US new home sales were expected to slide once again July but the 12.6% MoM crash was shocking (vs -2.5% exp). This pushed new home sales down 29.6% YoY

Source: Bloomberg

This is the 6th monthly drop in new home sales in the last 7 months (with come notable downward revisions too).

This is the lowest SAAR for new home sales since Jan 2016

Source: Bloomberg

Supply of new homes is soaring, now at 10.9 months vs 9.2 in the prior month.

Both median and mean new home prices jumped too.

Median Home Price soared from 414.9K to 439.4K, just shy of record high 458.2K

Finally, given the plunge in purchase mortgage applications, new home sales has further to fall still…

Source: Bloomberg

Is this what Powell and his pals wanted?

Tyler Durden Tue, 08/23/2022 – 10:10

Read More…


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!

Order by Phone at 888-809-8385 or online at M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at M - F 9am to 5pm EST

Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)

Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen!

Nascent Iodine - Promotes detoxification, mental focus and thyroid health.

Smart Meter Cover -  Reduces Smart Meter radiation by 96%! (See Video).

Report abuse


    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    Load more ...




    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.