WASHINGTON-Sales of newly built homes soared in November. New-home sales rose 16.9% from a month earlier to a seasonally adjusted annual rate of 657,000, the Commerce Department said Thursday.
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Sales of new single-family homes in April came in at a seasonally adjusted rate of 569,000 sales, a decrease of 11.4% from last month’s 642,000 sales. However, this is up 0.5% from last year’s.
· In addition, home prices are projected to decline 12.7 percent in the District of Columbia. At the end of the second quarter 2010, the median U.S. home price was $177,000. The median monthly mortgage payment in the 2010 second-quarter rose to 14 percent of median family income, an increase of 1 percent over the first quarter of 2010.
Several forecasts expect another 10 percent fall in 2019, depending on the direction of interest rates, with broker JLL warning in November that prices could plummet by 25 percent in 2019 if the.
Regionally, new-home sales were down across the board. Sales fell 61.8 percent in the Northeast, 8.3 percent in the Midwest, 8.7 percent in the South and 6.7 percent in the West. The inventory of new homes for sale was 225,000 units in September. This is a 5.8-month supply at the current sales pace.
The company reported first-quarter earnings of $3.52 per share on revenue of $451.6 million. Analysts had expected earnings of $3.87 per share on sales of about $452 million.
New U.S. home sales drop to 394,000 rate in July. Published: Aug 23, 2013 10:00 a.m. ET WASHINGTON (MarketWatch) — Sales of new U.S. homes dropped 13.4% to a seasonally adjusted annual rate of 394,000 in July, the lowest rate since October, as all four regions posted declines, according to government data released Friday.
At Home shares plummet to record close after earnings miss, stock downgrade. +0.43% has gained 13.4% for the period.. Real-time last sale data for U.S. stock quotes reflect trades reported.
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