A second consecutive decline in new home purchases in the United States, coupled with downward revisions for previous months, shows a moderate market as results begin to reflect the effects of hurricane Harvey and Irma.
Consumer confidence:
Estimated: 120.0
Current: 119.8
Sales of new Homes August
Estimated: 3.3%
Current: -3.3%
Sales of new Homes August
Forecast: 588K
Current: 560K
While data are not available from the Texas and Florida districts, which represent 14% of the total home market, it is assumed that the status of the units is not changed. In the next few months, it will be hard to read the data, as the consequences of the three hurricanes, Harvey, Irma and Maria are yet to be reflected.
Jr Trader Petar Milanov
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