New Homes Sales

New US home sales fell significantly in December Deal volume dropped more than 10% month-over-month: Commerce Department

Sales of newly-built U.S. homes fell sharply between November and December, hitting their lowest level in nearly a year.

The purchases of new, single-family homes dropped 10.4 percent month上海贵族宝贝

-over-month to a seasonally adjusted annual rate of 536,000, the Wall Street Journal reported, citing Commerce Department data. That was the slowest monthly sales pace since February and the biggest month-over-month drop since March 2015, according to the Journal.

The chief economist at Nationwide Insurance told the paper the fall was “a shocker.” However, he said home sales are volatile throughout winter and he expects new-爱上海

home sales to pick up in 2017.

Sales of new homes spiked in November, as buyers rushed to sign contracts ahead of rising interest rates.

Around 563,000 new homes sold last year, a爱上海同城手机版

12 percent jump from 2015, an indication of broad improvem新爱上海同城对对碰论坛

ent across the market, according to the Journal. Sales of new homes which represent about 10 percent of the market across the country are still well上海千花网论坛

below where they were during the housing boom of the 2000s. [WSJ] Miriam Hall

Tags: home sales, interest rates
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