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
Renewed expectations for further Federal Reserve tightening kept the dollar supported as policymakers continued to warn about persistent inflation risks.
Fed, BOJ Hikes Lift Dollar as Oil Falls (21 – 25 September)Global markets entered the week balancing tighter monetary policy against signs of easing Middle East energy risks. The Federal Reserve remains the main macro driver after raising rates to 3.75%–4.00%, its first hike since 2023, and signaling that another increase remains possible this year. The Dollar Index advanced to 100.4, while Treasury yields remained elevated. The Bank of Japan also tightened policy, raising rates to 1.25%, although dissent within the board suggested that future increases could come at a slower pace.
Detail Falling Oil Prices Support Metals (09.21.2026)Easing oil prices offered some relief to financial markets as renewed diplomatic efforts in the Middle East reduced immediate inflation concerns.
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