US new home sales fall unexpectedly in September
New home sales in the States fell unexpectedly last month.
Ferguson
17,090.00p
17:00 18/04/24
FTSE 100
7,877.05
17:14 18/04/24
FTSE 350
4,334.00
17:14 18/04/24
FTSE All-Share
4,290.02
16:54 18/04/24
Support Services
10,449.40
17:14 18/04/24
According to the US Department of Commerce, in seasonally adjusted terms new home sales fell by 3.5% month-on-month to an annualised rate of 959,000.
Economists had been anticipating an increase from 1.011m to 1.024m.
Nonetheless, against one year ago the pace of new home sales was running at 32.1%.
Prices also continued to gain, with the median cost of a new home rising from $322,400 one year ago to $326,800, while the average price was up from $382,700 to $405,000.
Sales only dipped in the Mid-west and South but in the Northeast they fell 28.9%, while in the West they edged up by 0.7%.
The supply of homes available for sale meanwhile edged up, from 3.4 months' worth of sales to 3.6.