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U.S. New Home Sales Rise 0.7% In October To 458,000

By Kitco News
Wednesday November 26, 2014 10:00 AM

(Kitco News) - New home sales rose 0.7% in October, the U.S. Commerce Department said Wednesday.

Sales reached a seasonally adjusted and annualized pace of 458,000 units, compared to September’s revised sales rate of 455,000 units. Previously, the Commerce Department pegged September’s sales rate at 467,000.

Economists looked for a rise in sales as consensus forecasts showed expectations of a sales rate of about 470,000 homes.

The department also said last month’s new homes sales increased 1.8% compared to the October 2013 sales rate of 450,000.

The median price for a new home was $305,000 and the average price was $401,100, the report said. The supply of new homes for sale at the end of October was 212,000 units, a 5.6-month supply, the Commerce Department said.

By Debbie Carlson of Kitco News; dcarlson@kitco.com

 

 

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
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