Property News · November 28, 2017

US new home sales rise to 10-year high because of tight supplies of land and labour shortages


Sales of new US single-family homes unexpectedly rose in October to hit a 10-year high amid robust demand across the country, offering a boost to the housing market.
The upbeat report from the Commerce Department on Monday was the latest indication that housing was regaining momentum after treading water for much of the year because of a dearth of homes for sale and shortages of labour and suitable land for building. It underscored the economy’s strength early in the fourth quarter….

Source : South China Morning Post
Read more…US new home sales rise to 10-year high because of tight supplies of land and labour shortages

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