New residential sales rose 12.3% as home buyers continue to turn to builders for homes
The numbers: Sales of newly built homes in the U.S. surged in September as aspiring homeowners turned to home builders for houses, unable to find inventory in resale homes.
U.S. new-home sales rose 12.3% to an annual rate of 759,000 in September, from a revised 676,000 in the prior month, the Commerce Department reported Wednesday. The number is seasonally adjusted, and refers to how many homes would be built over an entire year if builders continue at the same pace every month.
The pace exceeded expectations on Wall Street. Economists had forecast new-home sales to total 680,000 in September.The data from August was revised slightly. New-home sales fell to a revised 676,000 in August, compared with the initial estimate of a 8.7% drop.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Kokomo city council working to approve stricter standards for discount retail storesMeredith Hackler joined WRTV as a Multi-Media Journalist and Reporter in February of 2022.
Read more »
Hyundai thefts on the rise in IndianapolisMeredith Hackler joined WRTV as a Multi-Media Journalist and Reporter in February of 2022.
Read more »
Scotland's winter death toll worst in more than 30 yearsMore than 24,000 people in Scotland died between December 2022 and March 2023, new figures reveal.
Read more »
blink-182 sets August date for Gainbridge Fieldhouse visitJames Howell joined WRTV as a digital content producer in March 2022.
Read more »
Sen. Bob Menendez returns to New York court to enter plea to new conspiracy chargeSen. Menendez stepped down from his powerful post on the Senate Foreign Relations Committee after he was criminally charged last month with other conspiracy counts.
Read more »
Sen. Menendez returns to New York court to enter plea to new conspiracy chargeU.S. Sen. Bob Menendez of New Jersey is returning to a New York City federal court to enter a not guilty plea to a conspiracy charge alleging he acted as an agent of the Egyptian government.
Read more »