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Strong rebound for new home sales

Published 10/25/2017, 10:21 AM
© Reuters.  Strong rebound for new home sales
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  • September new home sales came in at a seasonally adjusted annualized rate of 667K, up a whopping 18.9% from August, and 17% Y/Y. That rate is also a 10-year high.
  • At least some of September's big print is no doubt spillover from a weak hurricane-hit month earlier - sales in the South of 405K vs. 322K in August.
  • The Northeast saw 48K vs. 36K, the Midwest 73K vs. 66K, and the West 141K vs. 137K.
  • On a year-to-date basis, sales in 2017 are up 8.6% from the same period a year earlier.
  • Full report
  • The homebuilders (ITB +0.5%) are in the green vs. the S&P 500's 0.4% decline.
  • Treasurys continue under major pressure, with the 10-year yield up another three basis points to 2.45%. TLT -0.7%, TBT +1.4%
  • Previously: New home sales soar (Oct. 25)
  • Now read: TBT: Put Option Idea For Income, Part 2

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