New Home Sales Jump to 901,000 SAAR

The Commerce Department's New Residential Sales Report shows sales of new single-family houses in July 2020 were at a seasonally adjusted annual rate of 901,000.

Surge Led By the Midwest

The Midwest region led the way with and amazing 58.8% jump.  Year over-year, the Midwest is up 81.4%. 

By Region Month-Over Month Sales in Thousands SAAR

  • US: 901
  • Northeast: 40
  • Midwest: 127
  • South: 513
  • West: 221

By Region Month-Over Month Percentages

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  • US: +13.9%
  • Northeast: -23.1%
  • Midwest: +58.8%
  • South: +13.0%
  • West: +7.8%

By Region Year-Over Year Percentages

  • US: +36.3%
  • Northeast: +25.0%
  • Midwest: +81.4%
  • South: +27.6%
  • West: +40.8%

Unadjusted Numbers

On an unadjusted basis there were 78,000 newly homes sold during July vs 75,000 in June. In July 2019 there were 55,000 new homes sold.

Those 75,000 new home sales were reported as 901,000.

Seasonal Adjustments went haywire but amazingly cheap money from the Fed sure helped, assuming you have a job.

Mish