» Subscribe Today!
The Power of Information
Home
The Ledger - EST. 1978 - Nashville Edition
X
Skip Navigation LinksHome > Article
VOL. 40 | NO. 43 | Friday, October 21, 2016

Sales of new homes rose 3.1 percent in September

Print | Front Page | Email this story

WASHINGTON (AP) — More Americans bought new homes in September, a sign that demand remains strong despite a shortage of properties on the market.

The Commerce Department says new-home sales advanced 3.1 percent last month to a seasonally adjusted annual rate of 593,000 units. New-home purchases in August were revised downward to an annual rate of 593,000.

A healthy job market and low interest rates have bolstered demand for new homes. So far this year, sales have increased 13 percent compared to the same period in 2015.

Sales surged last month in the Northeast, improved in the Midwest and South and slumped in the West.

Construction has largely failed to keep pace with demand. The market contains only 4.8 months' supply of new homes, down from 5.8 months a year ago.

Follow us on Facebook, Twitter & RSS:
Sign-Up For Our FREE email edition
Get the news first with our free weekly email
Name
Email
TNLedger.com Knoxville Editon
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0