​New Home Sales Suddenly Soared In July… Prices Jumped As Mortgage Rates Tumbled – Tyler Durden

New Home Sales Suddenly Soared In July… Prices Jumped As Mortgage Rates Tumbled US new home sales soared by 10.6% MoM in July (the most since Aug 2022), five standard deviations above expectations… …which pulled sales up 5.6% YoY… Source: Bloomberg That unexpectedly massive surge pushed new home sales SAAR up to 739k – its highest since May 2023 (just shy of Feb 2022)… Source: Bloomberg Bear in mind that the last three months have seen massive upward revisions for new home sales data (which is very much not the norm of the last few years)… Source: Bloomberg …as mortgage…  — Continue at ZeroHedge News : Read More