US new home sales for the month of September 0.603M vs. 0.585M estimate


  • US new home sales for the month of September 2022
Greg Michalowski

New home sales

  • Prior month 0.685M revised to 0.677M
  • New home sales 0.603M vs 0.585M estimate
  • New home sales MoM %: -10.9% MoM
  • new home sales YoY -17.6% of 0.732M
  • Median sales price up 13.8% YoY at $470,600
  • average sale price came in at $517,700
  • sales inventory came in at 9.2 months at the current sales rate
  • new houses for sale 462K

Although better than expected, the trend is lower for sales.

The 30 year mortgage rate came in this week at 7.15%. Higher rates and higher prices has squeeze the buyers out of the housing market plan that is being reflected in the sales data.

Pulte is seeing a 24% cancellation rate.


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