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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Roads End who wrote (6596)	11/5/2002 8:49:54 PM
From: Elroy Jetson	Read Replies (1) \| Respond to of 306849

Perhaps this is more complete. lumbersurplus.com Record Highs For U.S. New Home Sales -- October 28, 2002 According to the U.S. Commerce Department sales of new U.S. homes were up to a record level in September with the help of the lowest mortgage rates since the 1960's. Sales of new single-family houses climbed 0.4 per cent to a seasonally adjusted annual rate of 1.021 million units last month from an upwardly revised 1.017 million unit pace in August. Sales performance was stronger than economists had expected. Wall Street had looked for the sales rate to slip to 991,000 units from the previously reported 996,000 homes' rate in August. New home sales were strong in the Northeast, rising 94.2 per cent to their highest level since January 1997, and in the West, where activity increased 2.2 per cent. That strength more than offset weaknesses in the South and Midwest. In the South sales fell 8.6 per cent and in the Midwest sales were off 4.1 per cent. Despite September's sales record, the inventory of homes on the market rose to a 4.0 months' supply at last month's sales pace because the number of homes on the market at month's end moved up 332,000 – the highest level since August 1996 – from 330,000 a month earlier.