Arab Today, arab today us newhome sales jump in january
Last Updated : GMT 18:26:18
Arab Today, arab today
Arab Today, arab today

US new-home sales jump in January

Arab Today, arab today

Arab Today, arab today US new-home sales jump in January

Washington - AFP

  Sales of new homes in the United States sizzled in January, rebounding from a December decline amid shrinking inventory, government data released Tuesday showed. January sales jumped to an annual rate of 437,000, a 15.6 percent increase from the revised December reading of 378,000, the Commerce Department reported. The better-than-expected pace at the start of 2013 offered fresh evidence of recovery under way in the housing market, where new-home sales were up nearly 20 percent in 2012 from the prior year. Compared with January 2012, new-home sales were up 28.9 percent. Sales rose in all four regions, with the West showing the strongest gain, a whopping 45.3 percent from December. The supply of homes on the market fell to 4.1 months at the current sales rate, down 14.6 percent from December. Nevertheless, prices weakened in January, with sellers getting a median price of $226,400 and an average price of $286,300. IHS Global Insight analysts warned against reading too much into the monthly new-home sales numbers, which are typically revised substantially. But they pointed out that the 4.1 months' supply of new homes was the lowest reading since March 2005. "Home builders will have to ramp up building to meet demand, which suggests continued strong gains in construction employment and continued contributions to GDP from residential investment ahead," the analysts said in a research note. The January sales improvement also was reflected in last week's numbers on existing-home sales from the National Association of Realtors, which edged up 0.4 percent from December and were up 9.1 percent year-over-year. "Home sales -- both new and existing -- are gaining momentum," said Mei Li of FTN Financial. "New home demand is growing as a result of a brighter economic outlook, relatively low mortgage rates and a reduced supply of existing homes for sale." A closely watched home price index released Tuesday showed prices rose in December, capping a year of solid gains as the sector slowly recovers from the 2006 collapse of a price bubble. The Standard & Poor's/Case-Shiller 20-city home price index price index jumped 6.8 percent from a year ago. On a seasonally adjusted basis, there were no monthly declines in December in any of the 20 cities. But on a quarterly basis, prices slipped slightly in the 2012 final quarter from surges in the second and third quarters, David Blitzer of the S&P index committee noted. "These movements, combined with other housing data, suggest that while housing is on the upswing, some of the strongest numbers may have already been seen," Blitzer said.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us newhome sales jump in january Arab Today, arab today us newhome sales jump in january

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today 17.4 million tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars
View News in Arabic - Business: عقارات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Reasons for the delay 'On the Stairs of Servants'

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday