Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

New U.S. Home Sales Increase 4.8% in September
Oct 26, 2007
 Printable format
 Email this Article
 Search

Sales of new single-family homes in the United States rose 4.8% in September, recovering a portion of the substantial ground they lost in the previous month, according to the U.S. Commerce Department. Sales reached a seasonally adjusted annual rate of 770,000 units following major downward revisions to figures for the previous three months.

"Given the substantial downward revisions to home sales numbers for June, July and August, it must be said that this is still a fundamentally weak report," noted National Association of Home Builder (NAHB) Chief Economist David Seiders. "Moreover, the large sales gains reported in the West region are highly suspicious, given the results of our own builder surveys and large downward movements in existing-home sales in that region. On the positive side, builders do seem to be making progress on reducing the substantial overhang of unsold units on the market, according to the latest figures."

The inventory of new homes for sale edged down for a sixth consecutive month in September to 523,000 units as builders have cut back on the pace of housing starts and aggressively stepped up sales incentives. This inventory overhang amounts to an 8.3-month supply at the current sales pace, still high on a historical basis but down from a 9-month supply in August.

Seiders noted that there's still downward momentum in the single-family housing market, and the reported increase in new-home sales for September should not deter the Federal Reserve from enacting another interest rate cut at the Oct. 30-31 FOMC meeting.

 

Back to Daily News

 

Daily News

...........................................................

Jul 31, 2014: LG Home Appliance, LG Air Conditioning See Lower Quarterly Sales

Jul 31, 2014: AHAM Canada New Chair is Doell of Samsung Electronics Canada

Jul 29, 2014: Jarden Reports Record Net Sales in 2Q

Jul 29, 2014: LG USA Names VanderWaal to Head Marketing

Jul 29, 2014: Smart Meters May Provide An Entrance Point for Cyber Attacks on the Connected Home

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

March 2014: Market Research - 62nd Annual U.S. Appliance Industry Forecast
February 2014: Appliance Magazine Market Insight: December 2013
January 2014: Market Research - Appliance Historical Statistical Review: 1954-2012
January 2014: Appliance Magazine Market Insight: November 2013




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Pharmalive | Plastics Today | Powder Bulk Solids | Canon Trade Shows