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- U.S. new home sales unexpectedly decline in September
U.S. new home sales unexpectedly decline in September
The U.S.
Commerce Department announced on Monday that the sales of new single-family
homes fell 3.5 percent m-o-m to a seasonally adjusted annual rate of 959,000
units in September.
Economists had
forecast the sales pace of 1,025,000 last month.
August’s sales
pace was revised down to 994,000 units from the originally reported 1,011,000 units.
According to
the report, new home sales in the South, the largest area, fell 4.7 percent
m-o-m in September. Sales in the Northeast tumbled 28.9 percent m-o-m, while
sales in the Midwest decreased 4.1 percent m-o-m. Meanwhile, sales in the West increased
0.7 percent m-o-m.
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