On November 26, 2024, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported a significant decline in new residential sales for October 2024.
On November 26, 2024, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported a significant decline in new residential sales for October 2024.
Sales of new single-family homes were recorded at a seasonally adjusted annual rate of 610,000 units, representing a 17.3% decrease (±12.8%) from the revised September figure of 738,000. Compared to October 2023, sales were down by 9.4% (±19.0%), reflecting a slowdown in the housing market.
The median sales price for new homes in October 2024 was $437,300, while the average price stood at $545,800.
At the end of the month, the inventory of new homes for sale reached a seasonally adjusted 481,000 units, equivalent to a 9.5-month supply at the current sales pace, highlighting slower turnover in the housing market.
Source: U.S. Census Bureau
Global markets remain dominated by geopolitical risk as escalating conflict between the United States, Israel, and Iran fuels a strong shift toward safe-haven assets. The dollar index hit 99.3 Wednesday, rising for a third day as conflict concerns fueled inflation and shifted Fed rate cut expectations from July to September.
A US court rejected Trump's tariff refund delay as the Dollar (98.5) and 10 year yield (4.04%) held gains amid Middle East escalation and inflation fears.
After Khamenei: Who Will Lead Iran Next?Following the death of Supreme Leader Ali Khamenei, Iran has entered a pivotal transition phase. Senior officials in Tehran are acting swiftly to uphold the existing structure of the Islamic Republic, prioritizing continuity to head off potential internal instability. Despite these efforts, the sudden leadership vacuum has sparked intense political and military maneuvering behind the scenes.
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