New home sales collapsed in November, plunging by 11% MoM, its second biggest monthly drop since 2015 (..
Source: Bloomberg
Sending the new home sales SAAR reeling back to 841k (drastically below the 995k expected)…
The median selling price rose 2.2% from a year earlier to $335,300, with 17% of new homes sold in Nov. cost more than $500,000, up from 14% prior month.
All of which helps explain the plunge in homebuilder sentiment.
Tyler Durden
Wed, 12/23/2020 – 10:06
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