Posted: 2020-09-24 19:23:19
A few Comments on August New Home Sales
From Calculated Risk at Calculated Risk
Originally published 2020-09-24
New home sales for August were reported at 1,011,000 on a seasonally adjusted annual rate basis (SAAR). Sales for the previous three months were revised up significantly.This was well above consensus expectations, and this was the highest sales rate since 2006.
Currently the course of the economy will be determined by the course of the virus, and New Home Sales tell us nothing about the future of the pandemic. Without the pandemic, I'd obviously be very positive about this report.
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