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IPFS News Link • Housing

New Home Sales Tumble In September As Average Price Hits Record High

• Zero Hedge

Despite the surprise surge to multi-year highs in existing home sales, new home sales were expected to rise only a modest 1.4% MoM in September (vs +4.8% MoM in August) but things were notably worse with new home sales tumbling 3.5% in September (and August's bounce revised down to +3.0%)...

Source: Bloomberg

This move and revision takes SAAR back below 1 million (to 959k in Sept vs 1.025mm exp)...

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