After a pop the previous month, sales of new US single-family homes dropped again in September. There were 603,000 new single-family homes sold last month, which is down -10.9% from the downwardly revised August rate of 677,000 and is a -17.6% drop compared to September 2021 when it was 732,000.
Only 6,000 new homes sold last month were below US$300,000.
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Whether for the sustained increase in home-buying demand og those entering their early 30s over the next 15 years, remodelling or reconstruction of aging existing homes, or rebuilding after extreme weather events, the need for solid wood building materials will be unabated in the coming years.