US new homes sales likely took a breather in September

Echoing the reported dip in single-family building permits, the number of newly constructed dwellings going to contract probably declined by 0.4% to a seasonally adjusted annual rate of 550,000 in September, reversing little of the hefty 18.5% rise posted over the July-August span. 

"With the number of homes available for sale expected to be unchanged at 216,000 during the reference period, the stock of unsold dwellings likely remained at 4.7 months' supply", says Societe Generale.