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Surprise! Sales of New Homes Rise 6.2 Percent

by Mark Wellborn

Surprise! Sales of New Homes Rise 6.2 Percent: Figure 1

The Commerce Department reported on Wednesday that sales of new homes in the country rose 6.2 percent from September to October. Sales rose to a seasonally adjusted annual rate of 430,000 from 405,000 in September, according to the Associated Press. The increase outpaced economists’ predictions of a modest two percent increase. The median sales price for homes was $212,200, down just slightly from $213,200 a year ago.

The news comes just days after the National Association of Realtors (NAR) announced that national home sales activity hit an annually-adjusted 6.10 million units in October, the highest level since February 2007.

See other articles related to: new home sales, dc area market trends, commerce department

This article originally published at http://dc.urbanturf.com/articles/blog/surprise_sales_of_new_homes_rise_6_2_percent/1551

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