New Home Sales Up In U.S.
New homes sales in the U.S. increased 4.8 percent in September compared to August; however, sales were down 23.3 percent compared to September 2006, USA Today reported October 25, 2007.
"There were 523,000 new homes for sale at the end of the month, a 1.5% drop from August. It would take 8.3 months to clear that inventory at the current sales pace, down from the 9 months' supply reported in August."
The U.S. Commerce Department provided the data.
The West led the rebound in home sales with a 37.7 percent surge. Sales also were up 0.5 percent in the South, but sales of new homes fell 19.5 percent in the Midwest and 6.6 percent in the Northeast.
Comments