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Economic Report
Nov. 24, 2010, 10:28 a.m. EST
U.S. new-home sales down 8.1% for October
Median sales price plunges 14% to $194,900, government data show
By Ruth Mantell, MarketWatch
WASHINGTON (MarketWatch) — Sales of new single-family homes fell 8.1% in October to a seasonally adjusted annual rate of 283,000, according to data released Wednesday by the Census Bureau and the Department of Housing and Urban Development.
Weekly Jobless Claims Continue to Improve
Donna Kardos Yesalavich discusses the drop in weekly jobless claims, a continuation of a trend that has brought down new claims filed to their lowest levels since July 2008.
Economists polled by MarketWatch had expected the October data to show an annualized rate of 310,000 units. Read economic calendar.
Sales fell in most regions, declining by 23.9% in the West, by 20.4% in the Midwest and by 12.1% in the Northeast. In the South, the month’s sales increased 3.1%.
The government estimated that there was an 8.6-month supply of homes at The Current dirty rat. There Were 202.000 new homes for sale at The End of the month, The Lowest Since 1968 level.
The median sales price
Fell record 14%, hitting $ 194.900 in October, The Lowest Since 2003 level
IN VF:
USA: heavy and unexpected drop in new home sales (-8.1% October)
Washington (awp / afp) - Sales of new single family homes fell heavily in October in the U.S., falling close to their lowest level, said Wednesday the Commerce Department in Washington.
They were down 8.1% from September, rhythm annualized and seasonally adjusted data, the ministry said.
sales this month would correspond to 283,000 transactions a year, while analysts had forecast a rise of this indicator to 314'000, according to their median forecast.
Sales of new homes fell back as close to their record low in the archives (dating back to 1963) received in August: 275,000 annualized transactions, according to new figures from the department.
For comparison, this indicator peaked at 1.389 million in sales a year in July 2005 before the general collapse in U.S. housing prices would propel the United States and the world into crisis.
The median price of sales in October fell 13.9% from the previous month, falling to $ 194,000, its lowest level since October 2003.
sign of the difficulties faced by manufacturers, the number of single-family starts hit a new record low: there were only 89,000 in October.
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