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  • Monthly New Residential Sales, October 2022

    From census.gov Story is in PDF Format

    The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential sales statistics for October 2022. Sales of new single‐family houses in October 2022 were at a seasonally adjusted annual rate of 632,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 7.5 percent (±20.8 percent)* above the revised September rate of 588,000, but is 5.8 percent (±19.6 percent)* below the October 2021 estimate of 671,000. Sales Price The median sales price of new houses sold in ... (full story)

Taking all the US data points today it is possible to hypothesise the following:

Inflation and Interest Rates have not yet dented demand for goods, even if businesses are running down the inventory built up to counter the global logistical bottlenecks and pre-empting of higher inflation down the track.

The demand may well be financed by higher debt.

Rhetorical Q: What will future datapoints show to prove or disprove this theorem?
House sales are still lower than 2019-2021. But it did come in to the high side. But the statistics doesnt say anything about pricing which is to me the more interesting.
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  • Posted: Nov 23, 2022 10:01am
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     Newsstand
    Category: Low Impact Breaking News
    Comments: 2  /  Views: 1,174
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