New Home Sales strengthen in September

Wells Fargo Research Team Wells Fargo

Summary

September brings a strong rise in New Home Sales

New Home Sales jumped 4.1% during September, easily topping consensus expectations. On balance, new home sales have drifted higher this year despite various swings in mortgage rates. The upward trend reflects better affordability conditions in the new home market, which is relatively replete with supply and where builders are able to offer a menu of price incentives for increasingly cost-conscious buyers.

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Wells Fargo Research Team

Wells Fargo

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