USA Housing Starts
|Latest Release:||16-12-2014 13:30:00|
|Next Release:||26-11-2013 13:30:00|
|Source:||US Census Bureau/Department of Comm...|
The sale of new US homes surged in August, raising optimism the housing recovery was gathering momentum in the third quarter following a series of mixed reports.
New US home sales rose 18 percent in August to a seasonally adjusted annual rate of 504,000, following a gain of 1.9 percent that was initially reported as a decline, the Commerce Department reported today in Washington. A median estimate of economists called for a gain to 430,000. New home sales had risen to 427,000 in July, up from an initial estimate of 412,000.
The August gain sent new house prices to their highest level in more than six years, official data showed. It was also the biggest single-month gain since 1992.
Compared to August 2013, new home sales were up a staggering 33 percent.
The median sale price of a new home in June was $275,600, while the average sales price was $347,900.
On a seasonally adjusted basis, there were 203,000 new homes for sale at the end of August. At the current sales rate, this represents a supply of 4.8 months.
New home sales were up in three of the four US regions, official data showed. Sales in the West surged 50 percent from July. Year-on-year, sales in the West were up 84.3 percent. Sales in the Northeast increased 29.2 percent from the previous month. Year-on-year, sales in the Northeast were down 3.1 percent. New home sales...
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