·
Sales of new single-family homes
edged 0.2% higher in October to 1.226M following a 7.0% September gain
that was double the initial indication. Consensus estimates had been for
a decline in sales to 1.200M.· Sales were mixed m/m around the country. In the Northeast sales rose sharply for the third straight month but were down 3.4% y/y. In the West sales also rose sharply for the third consecutive month and were nearly a third higher than last October. To the downside were sales in the South by 9.1% (-4.9% Y/Y) and sales in the Midwest were off 3.6% (+8.4% y/y).
· The median price of a new single family home jumped 9.1% m/m to $221,800 (14.3% y/y), near the record high.