New home sales in September came in at a seasonally adjusted annual rate of 667,000, the highest level since 10/07! Sales were up 18.9% from August, the largest monthly percentage gain in almost 28 years. While some of the 26% sales rise in the South to 405,000, representing 61% of all new home sales, was hurricane related, and this is a volatile series, sales are up a decent 8.6% YTD.