FOREX TradingCharts.com

Financial News: U.S. New Home Sales Unexpectedly Jump To Ten-Year

U.S. New Home Sales Unexpectedly Jump To Ten-Year High In October

11/27/2017 - 10:18:00 (RTTNews)

(RTTNews) - For the second consecutive month, the Commerce Department has released a report showing an unexpected jump in new home sales in the U.S.

The report released by the Commerce Department on Monday showed new home sales surged up by 6.2 percent to an annual rate of 685,000 in October from the revised September rate of 645,000.

The notable increase surprised economists, who had expected new home sales to drop to a rate of 625,000 from the 667,000 originally reported for the previous month.

With the unexpected increase, new home sales reached their highest annual rate since hitting 727,000 in October of 2007.

The unexpected jump in new home sales was partly due to strength in the Northeast, where new home sales spiked by 30.2 percent to a rate of 56,000.

New home sales in the Midwest also surged up by 17.9 percent to a rate of 79,000, while sales in the West climbed by 6.4 percent to a rate of 167,000 and sales in the South rose by 1.3 percent to a rate of 383,000.

The report said the median sales price of new houses sold in October was $312,800, down 3.7 percent from $324,900 in September but up 3.3 percent from $302,800 in the same month a year ago.

The seasonally adjusted estimate of new houses for sale at the end of October was 282,000, representing a supply of 4.9 months at the current sales rate.

Last Tuesday, the National Association of Realtors released a separate report showing existing home sales jumped by much more than anticipated in the month of October.

The report said existing home sales surged up by 2.0 percent to an annual rate of 5.48 million in October from a downwardly revised 5.37 million in September.

Economists had expected existing home sales to climb by 0.7 percent to a rate of 5.43 million from the 5.39 million originally reported for the previous month.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2017 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Employers Report Positive Hiring Plans For Q1: Manpower (29 min(s) ago)
(RTTNews) - Employers globally reported positive hiring intentions as they plan to increase staffi ...Full Story»

Philippine Trade Deficit Widens In October (38 min(s) ago)
(RTTNews) - Philippine foreign trade deficit increased in October from a year ago, as imports grew ...Full Story»

Singapore Retail Sales Rebound In October (57 min(s) ago)
(RTTNews) - Singapore's retail sales increased in October after declining notably in the previ ...Full Story»

European Economics Preview: UK Inflation Data Due (01 hr(s), 12 min(s) ago)
(RTTNews) - Consumer and producer prices from the UK are due on Tuesday, headlining a light day fo ...Full Story»

Japan Tertiary Activity Index Rises More Than Expected In October (21 min(s) ago)
(RTTNews) - Japan's tertiary activity index increased at a faster-than-expected pace in Octobe ...Full Story»

Malaysia Industrial Production Growth Eases More Than Forecast (56 min(s) ago)
(RTTNews) - Malaysia's industrial production growth eased at a faster-than-expected pace in Oc ...Full Story»

Australia Q3 House Prices Ease 0.2% On Quarter (21 min(s) ago)
(RTTNews) - Residential property prices in Australia fell 0.2 percent on quarter in the third quar ...Full Story»

Australia Business Confidence Ebbs In November - NAB (31 min(s) ago)
(RTTNews) - Consumer confidence in Australia slowed in November, the latest survey from National A ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Employers Report Positive Hiring Plans For Q1: Manpower

12/12/2017 - 00:57 AM (RTTNews)
(RTTNews) - Employers globally reported positive hiring intentions as they plan to increase staffi ...Full Story>>

Philippine Trade Deficit Widens In October

12/12/2017 - 00:48 AM (RTTNews)
(RTTNews) - Philippine foreign trade deficit increased in October from a year ago, as imports grew ...Full Story>>

Singapore Retail Sales Rebound In October

12/12/2017 - 00:29 AM (RTTNews)
(RTTNews) - Singapore's retail sales increased in October after declining notably in the previ ...Full Story>>

European Economics Preview: UK Inflation Data Due

12/12/2017 - 00:14 AM (RTTNews)
(RTTNews) - Consumer and producer prices from the UK are due on Tuesday, headlining a light day fo ...Full Story>>

Japan Tertiary Activity Index Rises More Than Expected In October

12/11/2017 - 23:47 PM (RTTNews)
(RTTNews) - Japan's tertiary activity index increased at a faster-than-expected pace in Octobe ...Full Story>>

Binary Options Articles Courtesy of NADEX

These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.