New home sales jumped in September
The Commerce Department states sales rose 5.7 percent last month to a seasonally adjusted annual rate of 313,000 homes. Still, that is less than half the 700,000 economists state must be sold to sustain a healthy housing market.
The median sales price of a new home fell 3.1 percent to $204,400 — the lowest since October 2010. The number of new homes on the market was unchanged at 163,000, a record low.
Sales of new homes fell for four straight months before September and hit a six-month low in August. This year could be the worst year for sales since the government began keeping records a half century ago.
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More source:
New home sales jumped in September - Business - Real estate ...New-home sales jump in September as builders - USA Today
Sales of new homes dip 1.6%, while prices jump - MarketWatch
Existing home sales jump in August - Sep. 21, 2011
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