Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  August 23, 2012 16:27:44

U.S. - new home sales in July to two years maximum


New home sales in the U.S. in July grew by 3.6% to 372,000 units in annual terms compared upwardly revised 359,000 units in June. The July figure was the same as in May, which was the best month since April 2010. The market expected lower growth to about 365,000 units in the overall estimates range from 340 to 400 000
Compared sales in July rose by 25%.

The main motor of growth in demand for new housing are comments by record low mortgage interest motivating more Americans to reflect on the new housing.

The average sales price fell by 2.4% to 224 200 USD.

The supply of new homes on the market now dropped from 4.8 to 4.6 months. The market is open only 142,000 new homes, the lowest since the beginning of monitoring data in 1963.

Sales of new homes rose in 2 of the 4 major U.S. regions, led by 77procentním growth in the Northeast, where the equalized previous drop of 55%. Midwest grew by 7.7%. South declined by 1.6% and the West decline of 0.9%.
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