New homes sales retreat in August from 9-year high
Washington
PURCHASES of new US homes dropped in August after surging a month earlier to the fastest pace since 2007, representing a pause in momentum within residential real estate.
Sales fell 7.6 per cent to a 609,000 annualised pace, from a revised 659,000 rate in the prior month that was the strongest since October 2007, figures from the Commerce Department showed on Monday in Washington. The median forecast in a Bloomberg survey called for 600,000. Prices fell from a year earlier to the lowest level in almost two years.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Indian vote body tells X to remove Modi party video targeting Muslims, opposition
Inflation-hit Argentina has a new top banknote, worth just US$10
Trade between Singapore and Asean was at S$295.6 billion in 2023
One out of every 24 New York City residents is a millionaire
Private credit faces pain from high interest rates, Moody’s says
BOE postpones Long-Term Repo Operation due to tech issues