Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  November 28, 2012 17:41:26

U.S. - new home sales unexpectedly fell in October by 0.3%


Sales of new homes in the U.S. in October fell 0.3% to 368,000 units in annual terms. The market, on average, had expected growth to 390,000 units in the range of estimates from 365 to 418 000 units. The September figure was originally presented at the level of 389,000 units.

Sales for the last six months grew overall by 2.8%.

Compared prices of new homes rose 5.7% to 237 700 USD.

Sales of new homes rose in two of the four major regions of the U.S., led by growth of 62.2% in the Midwest and growth of 8.8% in the West. Northeast saw sales drop by 32.3%, which is attributable to the effects of Hurricane Sandy.

The supply of new homes on the market rose to 4.8 months compared to 4.7 months in September. The market is open 147,000 new houses.

New home sales represent approximately 6.7% of the total real estate market.
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