Sales of new single-family homes in the United States jumped 2.7% in September from August, the U.S. Commerce Department reported today.
But the median price fell to US$218,400, the lowest level in four years.
Commerce said there was a seasonally adjusted 464,000 homes sold in September, 33% below the 694,000 sold in September 2007.
The increase was a surprise because economists had expected a decline from the August level. But U.S. existing home sales also rose in September, by 5.5%, the U.S. National Association of Realtors said Friday.
Buyers may have been taking advantage of lower prices.
The September gain was driven by an increase of almost 23% in the U.S. West, to 108,000 units, up from 88,000 in August. But that is still far below the 174,00 houses sold in the West in September 2007.
U.S. new home sales rise as prices fall
Median prices slides to lowest level in four years
- By: IE Staff
- October 27, 2008 October 27, 2008
- 12:40