Sales of new homes in the US UU They rise unexpectedly to the maximum of ten years in October



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(RTTNews.com) – For the second consecutive month, the Department of Commerce published a report that shows an unexpected jump in sales of new homes in the United States

The report published by the Commerce Department on Monday showed new home sales rose 6.2 percent to an annual rate of 685,000 in October from the revised September rate of 645,000.

The remarkable increase surprised economists, who expected sales of new homes to fall to 625,000 of the 667,000 originally reported for the previous month.

The unexpected jump in new home sales was due in part to the strength in the Northeast, where sales of new homes increased 30.2 percent at a rate of 56,000.

Sales of new homes in the Midwest also increased by 17.9 percent at a rate of 79,000, while sales in the west rose by 6.4 percent at a rate of 167,000 and sales in the South increased by 1.3. percent at a rate of 383,000.

The report said that the average sale price again ho uses sold in October were $ 312,800, down 3.7 percent from $ 324,900 in September, but 3.3 percent from $ 302,800 in the same month of the previous year.

The seasonally adjusted estimate of new homes at the end of October was 282,000, representing a 4.9 month supply at the current sales rate.

Last Tuesday, the National Association of Realtors published a separate report that shows that existing home sales increased much more than expected in October.

rose 2.0 percent to an annual rate of 5.48 million in October from a revised downward figure of 5.37 million in September.

Economists expected existing home sales to rise 0.7 percent at a rate of 5.43 million. The last month.

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