Good morning and welcome to Squawk on the Street.

I'm Mike Santoli with Leslie Picker.

We're live from Post 9 at the New York Stock Exchange.

Carl Kintania and Sarah Eisen have the morning off.

David Faber is on assignment.

Coming up on today's show, the CEO of IMAX will be with us as the

company reports record third quarter revenue and a 50% jump in its global box office over

last year. Plus, the Treasury Department says the Trump administration is on track to narrow the

federal deficit. We'll talk to Treasury official Joe LaVornia about those findings.

And Tesla shares moving in reverse despite a return to revenue growth will get Wall Street's

reaction to the quarter.

But in the meantime, breaking housing data, just crossing Diana Oleg has those numbers for us.

Diana.

Home sales in September rose 1.5 percent from August to a seasonally adjusted

annualized rate of 4.06 million units. That's a little less than the street was expecting. Sales

up 4.1 percent from September of last year and it is the highest pace in seven months. Now this

count is based on closing. So people inking deals in July and August when mortgage

rates were coming down, though not quite as low as they are now. Inventory is the headline,

though, up 14 percent from a year ago to 1.55 million units for sale at the end of September.

That matches a five-year high, but it's still much lower than historical averages.

At the current sales pace, we're now at a 4.6 month

supply. And that continues to pressure prices. The median price of a home sold in September,

...