Sales pace of new homes highest since April 2010
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Sales pace of new homes highest since April 2010
WASHINGTON (MarketWatch) — Sales of new single-family homes in the U.S. rose in September to the highest rate in more than two years, according to government data released Wednesday that confirms the improving picture in the housing market.
Sales of new single-family homes in the U.S. rose 5.7% in September to a seasonally adjusted annual rate of 389,000, the highest pace since April 2010, when the first-time homebuyer tax credit was initially due to expire, the Commerce Department said.
“Though the level of new-home sales remains very low, this report adds to the evidence of housing market recovery,” said analysts at RDQ Economics.
The government revised down the sales pace in August to 368,000 from a prior estimate of 373,000.
Economists surveyed by MarketWatch had expected new-home sales in September to rise to an annual rate of 387,000, given recent gains in other housing-market data, such as confidence among home builders, as well as housing starts and permits
http://www.marketwatch.com/story/sales-pace-o...2012-10-24
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