Latest News:  
Beijing   Cloudy/Overcast    0 / 5   City Forecast

People's Daily Online>>World

U.S. new home sales up 1.3 percent in October

(Xinhua)

14:45, November 29, 2011

WASHINGTON, Nov. 28 (Xinhua) -- Sales of new single-family houses in the United States rose modestly in October, but housing prices continued to fall, indicating the struggling property market, reported the U.S. Commerce Department on Monday.

Sales of new single-family houses in October were at a seasonally adjusted annual rate of 307,000 units, up 1.3 percent from the revised September rate of 303,000 units, and is 8.9 percent above the October 2010 estimate of 282,000 units, said the department.

The median sales price of new houses sold in October dipped to 212,300 U.S. dollars, 0.4 percent lower than in September.

Single-family housing starts accounted for around 70 percent of the total new home construction including houses and apartment buildings in the nation.

U.S. home prices have tumbled, the job market remains weak and unemployment has been stuck near 9 percent for more two years. Many economists held that the housing market would remain in low level of recovery for about three to five years.

The U.S. housing industry is suffering its worst slump in decades. Experts hold that the home price downturn, large inventory of foreclosured houses and a persisting credit crunch have been a major drag on the property sector as well as the overall economic recovery.

Email|Print|Comments(Editor:实习生2)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. First snow falls in Taiyuan, N. China

  2. Chinese shadow puppetry

  3. Way back to normal life from drug addiction

  4. FBI equipment and facilities

Most Popular

Opinions

  1. Chinese still swarm to hard-hit Wall Street
  2. Durban goals must not crack under pressure
  3. Corporate efforts better than govt ad in selling China
  4. Iceland deal hits local firms with dose of cold water
  5. Are Chinese people truly miserable?
  6. Protecting monetary sovereignty
  7. Think competitively
  8. Public anger hits the roof
  9. Zero-sum mentality should be ditched
  10. US expected to contribute to Asian economy

What's happening in China

Aussie black-belt hosts travel show

  1. Chinese fire dragon dance shown in SW China
  2. New home sales see weekly 12.7% fall
  3. First snow falls in Taiyuan, N. China
  4. Pork industry safe: experts
  5. Sales target likely to be beaten

PD Online Data

  1. The lion dance in Guangzhou
  2. The flower fair in Guangzhou
  3. Lion dances pay New Year calls in Guilin
  4. Jiangsu´s special New Year traditions
  5. Hakka traditions in Spring Festival