US new home sales tanked in September

FXStreet (Mumbai) - According to the US Census Bureau data, the New home sales fell 11.5% at an annualised pace of 468,000 in September.

The drop was much sharper that the expected fall of 0.4%. The median price of new houses sold was USD 296,900, while the average sales price of USD 364,100, the Census Bureau said.

The National Association of Realtors data released last week showed that existing-home sales rose 4.7% at an annualised pace of 5.55 million in the month.

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