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New Home Sales (Oct.)

New home sales levelled off in October, suggesting that pent-up demand from the spring is running out. In addition, strong sales over the summer months have left the supply of homes for sale at an all-time low, making it more difficult for new buyers to find suitable properties. It will take time for supply to improve, so as pent-up demand dissipates, we expect new home sales to drop further before the end of the year.

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