New home sales jumped last month despite consistently high mortgage rates that experts say have hampered affordability and pushed potential buyers out of the market.
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Reuters
US newly built home sales unexpectedly increased to 632,000 units in October
[Washington 23rd Reuters] - The number of newly built single-family homes sold in October (seasonally adjusted) announced by the U.S. Department of Commerce on the 23rd increased 7.5% from the previous month to 632,000 units in terms of an annualized rate, contrary to market expectations (570,000 units), surged contrary to market expectations (570,000 units). Meanwhile, the September portion was revised downward from 603,000 units announced prev…
New home sales in US post surprise jump in October
Although sales surged during the pandemic, the sector cooled with the central bank raising the benchmark lending rate multiple times this year to ease demand and tamp down soaring inflation.
New home sales jump unexpectedly in October despite high mortgage rates
Sales of new US single-family homes unexpectedly jumped in October, shrugging off rising mortgage rates and house prices, which have drastically eroded affordability.
New home sales jumped last month despite consistently high mortgage rates that experts say have hampered affordability and pushed potential buyers out of the market.
New home sales in US post surprise jump in October
New home sales in the US defied expectations and rose in October, government data showed Wednesday, despite mortgage rates remaining high.Although sales surged during the pandemic, the sector cooled with the central bank raising the benchmark lending rate multiple times this year to ease demand and tamp down soaring inflation.But sales of new single-family houses picked up 7.5 percent to a seasonally adjusted annual rate of 632,000 in October, s…