New-home sales rise – highest in 2.5 years
WASHINGTON (AP) – Oct. 24, 2012 – Sales of
new U.S. homes jumped last month to a seasonally adjusted annual rate of
389,000, the highest level since a homebuyer’s tax credit boosted sales
in April 2010.
The Commerce Department says new home sales rose 5.7 percent in
September, up from 368,000 in August. Sales have risen 27.1 percent in
the past year. That’s the strongest yearly gain since February, although
sales are still well below healthy levels.
The figures do suggest the housing recovery is strengthening. Home
prices are rising, builders are more confident and are breaking ground
on more homes, and sales of previously occupied homes have increased in
the past year.
Rising sales are keeping inventories low. There were 145,000 new homes
for sale at the end of September, near the record low of 143,000.
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