CHARLOTTE, N.C.: Sales of new homes remained steady in October to a seasonally adjusted rate of 999,000 units.
While the Commerce Department said October new home sales were down 0.3% from September, the government revised up its September marginally. In all, the figures did not change much from the previous month, a sign that sales of new homes is remaining steady despite the home-buying season now entering the fall.
Sales of new homes are up 41.5% from the same period a year earlier, reflecting record low mortgage rates and a pandemic-induced push to the suburbs has made the housing market a bright spot despite the recession.
The median price of a new home sold was $330,600, the report said.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor
Read all the Latest News, Breaking News and Coronavirus News here
Comments
0 comment