New-home sales unexpectedly jump to highest level since 2007

Meanwhile, U.S. service sector growth also unexpectedly slowed. was upwardly revised to 723,000 new home sales, the.

The Commerce Department said new home sales increased 6.2 percent to a seasonally adjusted annual rate of 685,000 units in October, the highest level since October 2007. September’s sales pace was.

Purchases of new homes surged in April to the highest level since. reflected increased sales of homes priced at least $300,000. Sales jumped 15.8 percent in the South to a 352,000 annualized rate,

Sales of previously owned U.S. homes unexpectedly climbed in October to the highest level since February 2007, a sign of momentum in the housing market a month before a jump in borrowing costs,

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The Commerce Department said new home sales dropped 6.9% to a seasonally adjusted annual rate of 673,000 units last month.. which was the highest level since October 2007. April’s decline came.

The number of properties sold in which construction hadn’t yet started reached the highest level since January 2007, signaling residential construction. probably reflecting construction of.

The median sale price of a new house rose 1.2% from March 2016 to $315,100. The supply of homes shrank to 5.2 months from 5.4 months; there were 268,000 new houses on the market at the end of March. steady job growth and improving wages are continuing to drive demand, building on last year’s new home sales that were the strongest since 2007.

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Sales of newly built homes jumped 12.4% in July to the highest level in since October 2007, a sign of solid momentum in the U.S. housing market.

U.S. new-home sales rise unexpectedly to highest level since July – Steady job growth and improving wages are continuing to drive demand, building on last year’s new-home sales that were the strongest since 2007. While mortgage costs remain above pre-election levels, they’re becoming less of a curb on the market, with the average 30-year fixed rate falling last week to the lowest since November.