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Added on the 16/08/2016 16:55:57 - Copyright : Reuters EN
Hawthorn Woods, Jul 26 (EFE/EPA).- The number of new homes sold in the United States dropped by 6.6 percent or an annual rate of 676,000 single family homes, according to the monthly report issued by the US Census Bureau and the US Department of Housing and Urban Development on Monday. (Camera: TANNEN MAURY). SHOT LIST: A DRONE FOOTAGE OF THE NEW HOUSES FOR SALE IN A NEIGHBORHOOD AND THE CONSTRUCTION OF SEVERAL NEW HOUSES IN HAWTHORN WOODS, ILLINOIS, US.
Ending a six-month run of spiraling demand, sales of existing homes in the US contracted in November. It's being read as a signal that rising prices and historically low supply is finally slowing the housing market's rally. According to Business Insider, the National Association of Realtors says home sales fell 2.5% last month to a seasonally adjusted annual rate of 6.69 million. The median price for existing homes fell to a six-month low as well, dipping month-over-month to $310,800 from $313,100. Even so, the pace is still up 25.8% from the year-ago period.
Business Insider reports that in September, sales of previously owned homes leaped 9.4%. According to the National Association of Realtors that's a seasonally adjusted annual rate of 6.54 million. This is the fourth-straight month of accelerating sales, and the latest rate is the fastest since 2006. Economists surveyed by Bloomberg expected the sales rate to climb to 6.3 million from August's revised 5.98 million. The US housing market has served as a bright spot in the slowing economic recovery. Record-low mortgage rates have driven more Americans to buy units.
New data showed an uptick in sales of new homes in the United States, but all the growth was concentrated in just one region. Bobbi Rebell reports.
Comparable store sales at the U.S.' largest home improvement retailer shot up nearly 9 percent in the latest quarter. Fred Katayama reports.
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