The WPJ
Residential Real Estate News
New Home Sales in U.S. Jump 10.7 Percent in October
According to HUD and the U.S. Census Bureau, sales of newly built, single-family homes rose 10.7 percent to a seasonally adjusted annual rate of 495,000 units in October 2015.
"Our builders are reporting continued optimism in the housing market, and are adding inventory in anticipation of future business," said Tom Woods, chairman of the National Association of Home Builders (NAHB) and a home builder from Blue Springs, Mo.
New-home sales were up in three out of the four regions. Sales rose 135.3 percent in the Northeast, 5.3 percent in the Midwest, and 8.9 percent in the South. Sales fell 0.9 percent in the West.
The inventory of new homes for sale was 226,000 units in October. This is a 5.5-month supply at the current sales pace.
Real Estate Listings Showcase
This website uses cookies to improve user experience. By using our website you consent in accordance with our Cookie Policy. Read More