A few Comments on November New Home Sales

New home sales for November were reported at 592,000 on a seasonally adjusted annual rate basis (SAAR).  This was above the consensus forecast, however the previous months combined were revised down slightly. Sales were up 16.5% year-over-year in November, and this is the best month for November (NSA) since 2007. And sales are up 12.7% year-to-date compared to the same period in 2015. This is very solid year-over-year growth. Note that these sales (for November) mostly happened while mortgage rates were increasing (but still below the current level).  So far the increase in......(read more)

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