Washington (awp / dpa) – Sales of new homes in the United States rose in October, however marking time from the strong jump in September, according to Commerce Department figures released Wednesday.
In October, 745,000 new pavilions were sold on an annual basis – an estimate of sales for the whole year if the rate observed over one month was maintained 12 months.
This is 0.4% more than in September, a month for which the data has also been revised down sharply: the increase over one month was finally 7.1%, and not 14% as initially announced.
This is less than the 800,000 expected by analysts.
And that’s 23.1% lower than the 969,000 sales of October 2020.
In January, the peak was recorded, with 993,000 new homes sold, at the height of the real estate boom caused by the pandemic, thanks to very low interest rates and the generalization of teleworking.
Prices continue to climb: the median price of a new home is $ 407,700, and the average price is $ 477,800.
Historically low interest rates since the start of the pandemic had boosted demand from households and investors. And the ability to telecommute has caused many families to move away from city centers or even choose to live in a smaller town.
Persistent global supply difficulties continue to cause material shortages and delays, pushing prices up.
With too few real estate for sale to meet strong demand, prices soared, also driven by global sourcing difficulties, which made building materials more expensive.
afp / al
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