Despite today’s weak new home sales data, YTD sales are at 392,000, up 18% compared to January-September 2014. Last September, 37,000 new homes were sold; 36,000 were sold last month. The peak, 99,000 in 9/05; the trough; 24,000 in 9/11. Existing September home sales came in at a robust seasonally adjusted annual rate of 5.55 million, making up for a steep August decline. The problem, inventory is low and declining!