Housing Hooray

August new home sales came in at a seasonally adjusted annual rate (SAAR) of 1,011,000, and July’s sales were revised up from 901,000 to 965,000. New home sales are up a whopping 43.2% Y-o-Y and 14.9% YTD! As for August existing sales, they came in at a SAAR of 6 million, the best level since 12/06, are up 10.5% Y-o-Y, and down just 3.2% YTD despite dismal spring sales! Spectacular!