New home sales in US rose in November
December 24th, 2011 - 12:53 pm ICT by IANSWashington, Dec 24 (IANS/EFE) Sales of new homes in the US rose 1.6 percent between October and November to reach an annualized rate of 315,000, authorities said Friday.
Yet the figure compares unfavourably with the level of November 2010 - 323,000 - and is far below the annual rate of 700,000 sales that is typical of a strong housing market.
Last month’s reading makes it likely that 2011 will end as the worst year for new home sales since the government started keeping track in 1963.
The market for new homes was strongest last month in the South, where sales rose 12.9 percent, followed by the Midwest with an increase of 7.5 percent.
Sales plunged 26.3 percent in the Northeast in November and were down 16.9 percent in the West, the Commerce Department said.
The median sale price for a single-family home fell from $222,600 in October to $214,100 last month, while the number of such homes on the market nationwide dipped to an all-time low of 158,000.
Sales of existing homes in the US increased 4 percent in November to an annualized rate of 4.42 million, the National Association of Realtors said Wednesday.
The median price for existing homes sold last month was $164,200, down 3.5 percent from November 2010, while inventory declined by 5.8 percent to 2.58 million units, equivalent to eight months’ supply.
–IANS/EFE
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- US new home sales fall 1.6 percent in February - Mar 24, 2012
- US home sales rebound from record low - Apr 26, 2011
- US new homes sales decline in June - Jul 27, 2011
- Rise in US new home sales - Oct 27, 2011
- US new home sales rise - Nov 29, 2011
- US housing prices dipped in October - Dec 28, 2011
- Retail sales in US rose in January - Feb 15, 2012
- Plunging US home sales spark fears of slower recovery - Aug 25, 2010
- Rate of new home construction in US rises - Jul 20, 2011
- US jobless rates edges down - Nov 05, 2011
- US sales of existing homes rise - Feb 24, 2011
- US consumer prices rose in September - Oct 20, 2011
- House prices still falling in US - Mar 30, 2011
- US housing prices at lowest point in a decade - Apr 25, 2012
Tags: association of realtors, authorities, commerce department, dec 24, efe, eight months, housing market, median price, median sale price, midwest, months supply, national association of realtors, new home sales, new homes, single family