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New Home Sales Soared In August, Prices Plunged As Mortgage Rates Spiked

New Home Sales Soared In August, Prices Plunged As Mortgage Rates Spiked With homebuilder confidence plumbing new depths (and Housing Starts and Permits plunging), expectations were surprisingly for a small bounce back in new home sales in August (after collapsing in July). Analyst consensus was correct, with a 6.4% MoM jump (+1.3% MoM exp) with July's 10.5% MoM plunged revised dramatically higher to just 4.3% MoM decline. August was the biggest surge in sales since February, but still left sales down 2.0% YoY... Total new home sales SAAR jumped to 864k -...
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