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US new home sales climb 4.3%, but fall below forecasts in Nov

by ChemOrbis Editorial Team - content@chemorbis.com
  • 24/12/2015 (11:03)
According to data released by the US Commerce Department, new home sales in the US climbed at a slower than expected pace in November as new single-family home sales rose less than expected. New homes sales rose 4.3% in November to a seasonally adjusted annual rate of 490,000 units. New home sales data for October were also revised down to an annualized pace of 470,000 units from the previously reported pace of 495,000 units. Reuters economists’ initial estimates had called for an increase to a rate of 505,000 units. On a yearly basis, meanwhile, new home sales increased 9.1% compared with the same month of 2014.

New home sales in the Northeast slumped 28.6% while new home sales declined 8.6% in the West. In the South and Midwest, however, sales climbed by 4.5% and 20.5% in November, respectively.
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