New-home sales fall to nine-month low while supply rises

New home sales in October fell 8.9 percent to 544,000 compared to September, marking an almost two-and-a-half-year low, according to U.S. Commerce Department figures released Wednesday.

Its slightly upbeat view of the economy hoisted the U.S. dollar a six-month high against the euro, while prices for government debt fell. New home sales for the whole of 2009 slumped 22.9 percent to a.

U.S. existing home sales fall as supply hits 17-year low.. With fewer homes available for sale, house prices continued to rise.. and 30,000 to 40,000 new home buyers would be sidelined.

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Forecast predicts boost in housing inventory, sales in 2018.. see a 2.5 percent uptick in existing home sales, a 3 percent rise in housing starts and a whopping 7 percent increase in new home.

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At July’s sales pace it would take 5.8 months to clear the supply of houses on the market, up from 5.2 months in June. A six-month supply is viewed as a healthy balance between supply and demand.

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New home sales are drawn from permits and tend to be volatile on a month-to-month basis. They increased 2.4 percent from a year earlier. Housing market data has weakened in recent months, with homebuilding falling to a nine-month low in June and home resales declining for a third straight month.

New home sales are booked when a contract is signed, while sales by homeowners are tracked at closing, typically a month or two later. The existing home sale report from the National Association of.

For instance, existing home sales boasted a much higher median price of $195,500 in April. That’s a 4.1 percent bump from March but only a 15 percent year-over-year increase. New home. relatively.

A "Home For Sale" sign is displayed outside a house in Martinez, California, U.S. (Photographer: David Paul Morris/Bloomberg) U.S. New-Home Sales Fall to Nine-Month Low While Supply Rises

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