New home sales fall 8.9% across the US in October

New home sales fall 8.9% across the US in October

Published at: 2018-11-30 16:29 | Author: CIJ USA
New home sales fell 8.9 percent m-o-m to 544,000 in October, according to the US Commerce Department. The results mark an almost two-and-a-half-year low and represents a 12-percent decrease from October 2017. The weak performance was driven by a rise in 30-year fixed-rate mortgages, which now average 4.83 percent, up from 3.47 percent two years ago. Rising construction costs also pushed home prices to levels too high for many consumers. A separate report from the National Association of Realtors reveals pending nationwide homes sales declined 2.6 percent last month, to a four-year low.

Similar Stories:

Brookdale Senior Living secures $327m in financing
Berkadia has secured $327m in fixed- and variable-rate financing for Brookdale Senior Livi  »
Beachwold Residential acquires Hibiscus Springs Rental Homes for $60m
Beachwold Residential acquired the 470-unit Hibiscus Springs Rental Homes in Spring Hill,  »
River Pointe Apartments sells for $19.3m in Tampa
Coastline Management Group bought River Pointe Apartments, a class B community in Tampa, F  »
Redwood Capital Group buys Ancora Apartments in Orlando for $65m
Redwood Capital Group acquired Ancora Apartments in Orlando’s Lake Bryan submarket from  »
Hurricane Hermine had the entire state of Florida on the edge of its seat in September. It   »
South Florida’s condo market is readying for a soft landing rather than the crash that m   »
There are approximately 17,000 units in Miami in presale, sold or under construction. Abou   »
The same year Orange County builders pulled 11,000. Fast forward to 2010 and those numbers   »