13.4% plummet sales of new homes in U.S.

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Regionally, new-home sales were down across the board. Sales fell 61.8 percent in the Northeast, 8.3 percent in the Midwest, 8.7 percent in the South and 6.7 percent in the West. The inventory of new homes for sale was 225,000 units in September. This is a 5.8-month supply at the current sales pace.

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NAR’s Profile of International Transactions in U.S. Residential Real Estate 2019 revealed that foreign buyers purchased $77.9 billion worth of U.S. existing homes from the 2019 survey reference period, a 36% decline from the level reached in the previous 12 months ($121 billion). Non-resident foreign buyers accounted for $33.2 billion of U.S.

 · The subprime mortgage mess led the group to cut its sales forecast as well. It said problems some buyers may have getting financing reduced its forecast for sales of existing homes this year by 100,000 homes to 6.34 million. That sales pace.

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The Commerce Department said Friday that U.S. sales of newly built homes dropped 13.4 per cent to a seasonally adjusted annual rate of 394,000. That’s the lowest pace in nine months. That’s the.

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Sales of new single-family homes took a big 13.4% month-to-month nosedive to a seasonally adjusted annual rate of 394,000 for July, according to a Commerce Department report (link opens a PDF).

In U.S. trading on Friday, EUR/USD was up 0.18% at 1.3380. The Commerce Department reported earlier that new home sales in the U.S. dropped 13.4% to 394,000 units in July, far worse than market.

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