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US new homes sales edge up in Oct

by ChemOrbis Editorial Team -
  • 27/11/2014 (08:55)
According to data from the US Commerce Department, new home sales in the US increased in October. The increase was attributed to higher sales in the Midwest. However, it was noted that activities in the housing sector remain limited due to slow wage growth.

The US new home sales rose 0.7% to reach a seasonally adjusted annual rate of 458,000 in October, posting the highest level since May after the downward revision of September’s sales to 455,000 units from 467,000 units. On a yearly basis, new sales rose 1.8% in October.

Across the regions, meanwhile, sales increased in the Midwest and Northeast by 15.8% and 7.1%, respectively while new home sales were down in the South by 1.9% and the West by 2.7% in October.
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