New Home Sales In October Up Only A Fraction
The Census and Department of Housing and Urban Development reported that new homes sales were only 307,000 in October. September adjusted sales were 303,000. The numbers continue a string of weak numbers. The report said, Sales of new single-family houses…
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The Census and Department of Housing and Urban Development reported that new homes sales were only 307,000 in October. September adjusted sales were 303,000. The numbers continue a string of weak numbers.
The report said,
Sales of new single-family houses in October 2011 were at a seasonally adjusted annual rate of 307,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.This is 1.3 percent (±19.7%)* above the revised September rate of 303,000 and is 8.9 percent (±17.2%)* above the October 2010 estimate of 282,000.
The median sales price of new houses sold in October 2011 was $212,300; the average sales price was $242,300. The seasonally adjusted estimate of new houses for sale at the end of October was 162,000. This represents a supply of 6.3 months at the current sales rate.
According to MarketWatch,
Economists surveyed by MarketWatch had expected new home sales to climb to an annual rate of 320,000 on a seasonally adjusted basis.
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