Brief excerpt:
Important: Sales in October were impacted by the hurricanes. The south region was down 27.7% year-over-year (“South” includes Florida, the Carolinas and Georgia – states hit hardest by hurricanes Helene and Milton). Excluding the South, sales were up about 8% year-over-year.
The Census Bureau reported New Home Sales in October were at a seasonally adjusted annual rate (SAAR) of 610 thousand. The previous three months were revised down, combined.
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The next graph shows new home sales for 2023 and 2024 by month (Seasonally Adjusted Annual Rate). Sales in October 2024 were down 9.4% from October 2023.
New home sales, seasonally adjusted, have increased year-over-year in 17 of the last 19 months.
There is much more in the article.