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New Home Sales Buoyed by 135 Percent Gain in New England

Wednesday, November 25, 2015

New home sales in October reversed their sharp downturn in September and also bucked other recent sales trends, rising by a substantial 10.7 percent.  The U.S. Census Bureau and the Department of Housing and Urban Development reported today that sales of newly constructed homes were at a seasonally adjusted annual rate of 498,500 units, up from a revised September rate of 447,000.  The October number was 4.9 percent higher than the previous October's pace of 472,000 units.

The revision of the September number paints an even dimmer picture of those sales.  They were originally reported at a rate of 468,000 units, already 11.5 percent below sales in August.  Despite the strong October number sales are still below the half-million and higher numbers posted in July and August.

 

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