WSHINGTON (AP) — Sales of new homes jumped 14% in September to the fastest pace in six months as strong demand helped off rising prices.
The Commerce Department reported Tuesday that sales of new single-family homes rose to a seasonally adjusted annual rate of 800,000 units last month after sales had fallen 1.4% in August. The September sales pace was the strongest since sales reached an annual rate of 873,000 in March.
The median price of a new home rose to $408,800 in September, up 9.5% from a year ago.
Prices are being pushed higher by strong demand and increases being faced by builders for because of shortages of critical building supplies such as lumber.
The report on new home sales followed news last week that sales of existing homes rose to a seasonally adjusted annual rate of 6.29 million units in September, the strongest pace since January.
The electric vehicle (EV) market remains one of the markets that growth-oriented investors simply have to be in. This sector is at the intersection of multiple secular trends (e.g. autonomous driving, renewable energy). And, after years of false starts, it appears that EV technology is ready to be produced at scale.
Think about this. There is an average of 90 million vehicles sold annually. That’s units, not dollars. Total sales of vehicles topped $3.1 trillion in 2019, and the number is expected to grow over the long-term.
The EV market is less than 3% of global vehicle sales, but it’s growing. EV is expected to account for more than 50% of the total auto-fleet by 2050, and that target could be reached much sooner if battery technology advances.
When it comes to the EV market, it’s a “rising tide lifts all ships” kind of market, but there are still some clear winners to focus on. In this special presentation, we’ll take a look at eight companies that are among the best in the current crop of EV and EV-related companies.