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Home sales drop
November 25, 2010, Thursday
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SALES of new homes in the United States fell in October to near a record low while the median home price dropped to the lowest point in seven years.
The US Commerce Department yesterday reported sales of new single-family homes declined 8.1 percent to a seasonally adjusted annual rate of 283,000 units in October. That was just 2.9 percent above the all-time low of 275,000 units hit in August for government records that go back to 1963.
The median price of a home sold in October dipped to US$194,900, the lowest level since October 2003.
The US Commerce Department yesterday reported sales of new single-family homes declined 8.1 percent to a seasonally adjusted annual rate of 283,000 units in October. That was just 2.9 percent above the all-time low of 275,000 units hit in August for government records that go back to 1963.
The median price of a home sold in October dipped to US$194,900, the lowest level since October 2003.
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