News
US government announces rise in new home sales
Wednesday 28 May 2008
Latest government figures show a rise in new home sales in the US after some months of decline in the market.
The US Commerce Department reported on Tuesday (May 27th) that there had been a rise in property sales of 3.3 per cent in April to 526,000 units.
The increase in new home sales differed between regions, with the highest rise occurring in the north-east where there was a 41.7 per cent increase.
Sales in the west of the country increased by 8.3 per cent and in the Midwest by 5.8 per cent.
Government statistics also show a decline in the median price of a new home to $246,100 (£124,365) which, along with the weakened dollar, makes buying property in the US an attractive prospect for overseas investors.
Areas of the US such as Las Vegas, or Sin City as it has been referred to, is expanding at a fast rate and is the most populous city in the state of Nevada.
The US Commerce Department reported on Tuesday (May 27th) that there had been a rise in property sales of 3.3 per cent in April to 526,000 units.
The increase in new home sales differed between regions, with the highest rise occurring in the north-east where there was a 41.7 per cent increase.
Sales in the west of the country increased by 8.3 per cent and in the Midwest by 5.8 per cent.
Government statistics also show a decline in the median price of a new home to $246,100 (£124,365) which, along with the weakened dollar, makes buying property in the US an attractive prospect for overseas investors.
Areas of the US such as Las Vegas, or Sin City as it has been referred to, is expanding at a fast rate and is the most populous city in the state of Nevada.
|
Contact us now for FREE no obligation information and access to monthly WEALTH building newsletter and property investment course! |