Sales of new buildings in the U.S. grew by more than 7% in August – Forex
Sales of new homes in the United States increased by 7.1% month-on-month in August. A total of 713,000 homes were sold. Analysts had forecast more moderate growth. According to their calculations, August sales of new buildings were to increase by 3.8%. Such a significant increase in the indicator was facilitated by low rates on mortgage lending against the background of the reduction of the base rate of the US Federal Reserve. The average cost of a new home was $328,400 in the reporting month. This is 2.2% higher than the average price of new buildings a year earlier. The period required to sell all new buildings on the market decreased in August to 5.5 months against 5.9 months in July. As of August 31, there were 326,000 new homes on the U.S. real estate market. This is the lowest figure for the last 10 months. Statistics on sales of new buildings in the U.S. real estate market are in demand by analysts and experts, as such transactions are registered immediately. For other properties, the information does not arrive so quickly.