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New Home Sales and Cancellations

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  • Mar 24, 2022
  • #Sales
Bill McBride
@calculatedrisk
(Author)
calculatedrisk.substack.com
Read on Substack
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At first glance, we might think that new home sales, as reported by the Census Bureau, would be impacted by rising mortgage rates sooner than existing home sales. This is because ne... Show More

At first glance, we might think that new home sales, as reported by the Census Bureau, would be impacted by rising mortgage rates sooner than existing home sales. This is because new home sales are reported when the contract is signed, but existing home sales are reported when the transaction closes.

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Matthew C. Klein @m_c_klein ยท Mar 24, 2022
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Worth reading @calculatedrisk on why the monthly new home sales data may be slow to capture the impact of higher mortgage rates because those numbers don't include cancellations:
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