New Home Sales As Reported

The Commerce Department reports New Home Sales declined 0.3% in October but that does not factor in a significant upward revision in September. 

Sales of new single-family houses in October 2020 were at a seasonally adjusted annual rate of 999,000, according  to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. 

This is 0.3 percent below the revised September rate of 1,002,000, but is 41.5 percent above the October 2019 estimate of 706,000

New Home Sales Seasonally Adjusted Annualized

New Home Sales Seasonally Adjusted 2020-10

Seasonal Adjustments Annualized

Note reported sales of 999,000 for October alone when the actual year-to-date total (January Through October) is 703,000.

Year-to-Date Analysis

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From 2007 through 2019, year-to-date total sales for 10 months were less than in 1963.

Think about population growth and let that statistic settle.

Sales then surged in 2020 exceeding all but the bubble years of 2003-2006.

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