New Home Sales Post Largest Gain in More Than Two Years in September 2012
In September, new home sales were at a rate of 389,000, the strongest pace of sales since April 2010. According to the U.S. Census Bureau, new home sales in September had a 5.7% growth from August, and a 27.1% jump from a year ago.
New home sales varied by region, with 215,000 new home sales coming from the South alone. The Northeast region, however, had a 75% increase in sales from a year ago.
“Combined with consistent, positive report on housing starts, permits, prices and builder confidence in recent months, today’s data provides further confirmation that a gradual but steady housing recovery is underway across the nation,” says Barry Rutenberg, Chairman of the National Association of Home Builders.
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