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Economy in Brief

New Home Sales Higher Again
by Tom Moeller October 28, 2004

Sales of new single-family homes rose 3.5% in September to 1.206M, the highest level since May. Consensus estimates had been for sales of 1.150M.

Sales rose in each of the country's regions except the West where a 0.8% (+9.1% y/y) decline followed a 10.1% August jump. In the South sales rose 2.7% (4.3% y/y) and in the Northeast sales rose 6.0% (-19.3% y/y). Sales in the Midwest jumped 12.3% (22.7% y/y).

The median price of a new single family home fell 8.4% m/m to $197,700 (3.0% y/y).

Homes Sales (000s, AR) Sept Aug Y/Y 2003 2002 2001
New Single-Family 1,206 1,165 7.0% 1,089 976 907
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