Sales of new buildings in the U.S. in September rose by 6.6%

28.10.2010 14:55
Sales of new U.S. homes rose in September compared with the previous month at 6.6%, up 307 thousand on an annualized basis, according to the Ministry of Commerce of the country.

In August, the number of new buildings sold was 288 thousand, that on 1,1% more than in July.

Analysts polled by Bloomberg, on average, had expected sales to increase by 4,2% - to 300 thousand homes.

Despite the fact that sales of new buildings in the U.S. there is the second consecutive month, the number of homes sold in terms of annual growth is at levels close to record lows of 282 thousand houses, recorded in May.

Negatively on the willingness of Americans to improve their living conditions affect a bad situation on the labor market, as well as a general distrust in the economy because of its weak and uneven recovery, economists say. At the same time, positive factors contributing to decisions about buying new homes are lowering mortgage rates and low home prices.

According to a senior economist at Moody`s Analytics Inc. Aaron Smith, the sales "are still only at the upper limit of what can be called disappointing."

Average price of new homes in the U.S. rose in September by 3,3% compared to the same month last year to $ 223.8 thousand - that is still close to the minimum since December 2003.

To carry out all exposed now for sale homes at the current rate in September would have required eight months, while the August figure was 8.6 months.

Sales of new buildings accounts for about 10% of the housing market trading in the U.S..

Interfax
Content tags: Overseas property Housing
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