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       #Post#: 61813--------------------------------------------------
       So much for that housing crash...
       By: Sherlock reincarnated Date: September 24, 2025, 1:39 pm
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       New home sales soar 20% in August to a three-year highSales of
       newly built homes rose a much larger-than-expected 20.5% in
       August compared with July to the highest level since January
       2022, according to the U.S. Census. It is also the largest
       one-month gain since August 2022. Sales were 15.4% higher than
       August 2024.
       This count is based on people out shopping in August and signing
       deals, when the average rate on the 30-year fixed mortgage was
       higher than it is today. That rate started August at 6.63%,
       according to Mortgage News Daily, and didn’t really move much
       during the month.
       The sharp decline in rates began in September, when it fell to a
       three-year low of 6.13% the day before the Federal Reserve cut
       its lending rate, and then moved higher to where it is now at
       6.37%.
       Given that rates hadn’t fallen yet, it’s curious that August
       sales jumped so high. Part of the answer may be in the survey
       itself.
       “We were expecting a gain but not that large,” said Robert
       Dietz, chief economist at the National Association of Home
       Builders. “Always important to remember the margin of error for
       new home sales is large. We’ll need to wait for revisions next
       month and the September data point to see if this is smoothed
       out.”
       
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