New Home Sales September

 

 

September new home sales jumped 5.7% to 389,000, up from the August level of 368,000. This marks the highest pace for new home sales since April 2010, during the first-time homebuyer tax credit. The new home supply dropped from 4.7 months i...

n August to 4.5 months for September.

The New Home Sales report shows the number of newly constructed homes with a committed sale during the month. It is compiled through nationwide survey of 10,000 builders/owners of 15,000 building projects and through sampling of permit-issuing offices, as well as land not covered by building permits. The data is timely and is used in conjunction with the existing home sales release from the National Association of Realtors. The level of new home sales indicates housing market trends, and economic momentum signaling consumer purchases of furniture and appliances. Simply, the volume of sales indicates housing demand.

September State By State Unemployment Rate

 

 

 

For September, 41 states plus the District of Columbia saw unemployment rate decreases. Year-over-year, 44 states plus the District of Columbia had decreases. Nevada reported the highest level of unemployment at 11.8%, with Rhode Island and California also in the top 3. Meanwhile, North Dakota posted the lowest rate at 3.0%.

Unemployment Sees Unexplained Big Drop?

Well, since it is election time, let's get your political juices flowing. How did the latest unemployment number drop SIGNIFICANTLY from 8.1% to 7.8%? So, there could be two answers to the question one of which is factual and one that has a flavor of conspiracy as stated by Jack Welsh, probably the greatest CEO in history. Welsh says that the numbers have been cooked by the administration prior to the election. If a minimum of 150K jobs must be created to keep pace with new people just entering the workforce how can a report indicating only 114K jobs created make the unemployment number go down? The factual answer is that the participation rate is the lowest it has been in 31 years and means more people have given up and stopped looking for work and then are no longer counted in the unemployment report. So, when you see that the unemployment rate dropped, keep in mind that it dropped for a VERY bad reason!

 

Former CEO Jack Welsh says white house manipulates jobs data.