Tuesday, 22 October 2013

US existing home sales fall, China's new home prices rise

US existing home sales fell 1.9 percent in September, the National Association of Realtors reported on Monday.

Sales in August had been the strongest since 2009 though, and the September sales rate unadjusted for seasonal variations was still 15.1 percent higher than the corresponding rate a year earlier.

Also, the median price of a house rose 11.7 percent in September from a year earlier.

The inventory of existing homes for sale was 2.21 million at the end of last month, up from 2.17 million at the same time in 2012. It was the first time inventory increased on a year-on-year basis since early 2011.

Meanwhile, China's property market is looking even hotter. Data from the National Bureau of Statistics on Tuesday showed that compared to a year earlier, new home prices rose in September in 69 of the 70 cities the government tracked.

According to Reuters, average new home prices in the 70 cities rose 9.1 percent in September from a year earlier, the ninth straight month of year-on-year increases. Compared to August, prices rose 0.7 percent.

1 comment:

Uncle Levi said...

The chinese bubble is so hoooot! I can't wait to see it burst to remind us that growth can not be based on speculation. It almost seems obvious from the US's experience that this growth is just unreal.

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