Existing Home Sales Surge in September
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Sales of existing U.S. homes surged  unexpectedly by 3.1 percent in September as low mortgage rates  fueled home buying, a trade association report showed on  Monday.
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Housing starts have been very high relative to the number of homes that builders are trying to sell.
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Sales of new homes rose unexpectedly in April to the fastest pace this year as the housing sector showed resilience in the face of rising mortgage rates. But the price of homes sold last month fell and the level of unsold homes rose to a record high.
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Sales of existing U.S. homes surged unexpectedly in September on low mortgage rates, a trade association group said Monday, adding that activity would have been even brisker had hurricanes not hit the south.
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Defying forecasts of an imminent slowdown, sales of new homes shot up in April to the fastest sales pace this year. But prices were up only slightly, and the backlog of unsold homes hit a new record.
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NEW YORK - US business investment in computers and machinery rose in September, and new-home sales unexpectedly enjoyed a temporary lift.
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Sales of new homes, after falling for three months, rose in August. But the gain was expected to be temporary as the battered housing industry struggles with a near-record level of unsold homes.
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A surprisingly large number of Americans took advantage of low mortgage rates to buy new homes in September, signaling continued strength in the real estate market.
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Sales of new U.S. homes rose 16.2 percent in April, the sharpest climb in 14 years as builders slashed prices a record 11 percent, a government report showed on Thursday, signalling stabilization in the housing sector.
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Orders to US factories for big-ticket durable goods edged up 0.2 percent in September while sales of new homes surged to the third highest monthly level on record.
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NEW YORK, December 30  - The National Association of Realtors reported yesterday that the sales of existing homes in the US had risen to an all-time monthly high in November, surpassing expectations.
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Orders to US factories for big-ticket durable goods edged up in September while sales of new homes raced to the third-highest monthly level on record.
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Sales of existing U.S. homes surged  3.1 percent in September on low mortgage rates, and sales would  have been brisker had hurricanes not hit the south, a trade  association said on Monday.
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Toyota Motor Corp. yesterday reported booming U.S. sales in September, setting a pace that continues to rattle the world's other major auto companies.
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House prices grew by 1.3% in September, the Nationwide says, lifting the annual growth rate to 8.2%.
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Sales of existing U.S. homes  unexpectedly surged 3.1 percent in September on low mortgage  rates, and would have been even brisker had hurricanes not hit  the south, a trade association said on Monday.
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The pace of existing home sales edged up in November from a record low, according to a report on Monday that offered some tentative signs of stabilization in the still-ailing housing market.