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US new home sales rise to highest since July 2008

by ChemOrbis Editorial Team - content@chemorbis.com
  • 27/10/2014 (12:00)
New home sales in the US rose in September, posting the highest annual rate since July, 2008, according to data from the US Commerce Department. The increase in new home sales was attributed to the improvement in labor market and stronger Americans’ confidence.

New home sales climbed 0.2% month over month to reach an annual rate of 467,000 in September compared to the previous month. The reading was the strongest since July 2008 while it fell below the initial estimates calling for an annual rate of 470,000 in a survey by Bloomberg. The figure for the prior month was revised to an annualized pace of 466,000. New home sales held approximately 10% share in total sales.

On a yearly basis, home sales in September increased 17% while sales rose 1.7% in the first nine months of the year.

Within the region, demand fell in the South and Midwest while it increased in the West.
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