Following the bounce in exisitng home sales (albeit lower YoY), new home sales ripped back higher in October (up 6.2% vs expectations of a 6.1% drop) following a big downward revision of last month’s manic spike. This is the highest print for new home sales since Nov 2007.

The 6.2% surge is a six standard deviation beat of expectations…

September’s 18.9% spike was revised notably lwoer to a 14.2% jump to 685k SAAR…

This is the highest new home sales SAAR print since Nov 2007… but still has a long way to go back to ‘normal’…

And finally, we note that the average new home sales price hit a new record high, above $400K for the first time ever – $400,200.