Rise in US new home salesOctober 27th, 2011 - 12:30 pm ICT by IANS
Washington, Oct 27 (IANS/EFE) Sales of new homes rose 5.7 percent last month to an annualised rate of 313,000 units, the US Commerce Department said Wednesday.
The increase, which followed four consecutive monthly declines, brought the annual rate close to the 316,000-unit level reached in April.
Even so, sales remain far below the threshold of 700,000 units annually that analysts say is necessary for a healthy housing market.
The median selling price for a new home declined in September by 3.1 percent to $204,400, the lowest point since October 2010. Though the figure was an improvement over August’s 8.7 percent drop.
The number of new houses on the market remained stable last month at 163,000 units as the US economy continues to struggle with 9.1 percent unemployment more than two years after the recession officially ended.
Fewer and fewer families are in a position to buy a new home and those who have the money can get a more attractive deal on an existing house, especially if the property is in foreclosure.
The uptick in September looks unlikely to stop 2011 from becoming the worst year for the US housing market since the government began keeping track five decades ago.
- US new home sales rise - Nov 29, 2011
- US home sales rebound from record low - Apr 26, 2011
- New home sales in US rose in November - Dec 24, 2011
- US new home sales fall 1.6 percent in February - Mar 24, 2012
- Rate of new home construction in US rises - Jul 20, 2011
- Home sales in Spain fall - Aug 10, 2012
- US new homes sales decline in June - Jul 27, 2011
- Sales of new homes in US rose in April - May 25, 2011
- US new home sales down - Jul 26, 2012
- US sales of existing homes rise - Feb 24, 2011
- Home sales fall in Spain - Aug 11, 2011
- US economy grew 2.5 percent in third quarter - Oct 28, 2011
- US retail sales up in September - Oct 16, 2011
- Brazil credit-card interest rate tops 300 percent - Jul 18, 2012
- Spanish economy shrinks - Aug 29, 2012