US New Home Sales Soar to Highest Level in a Decade - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

US New Home Sales Soar to Highest Level in a Decade

Posted: 10/25/2017 10:32:00 -04:00 Updated:
This Wednesday, Sept. 6, 2017, photo shows a new home for sale in a housing development in Raeford, N.C. On Wednesday, Oct. 25, 2017, the Commerce Department reports on sales of new homes in September. (Swayne B. Hall/Associated Press) This Wednesday, Sept. 6, 2017, photo shows a new home for sale in a housing development in Raeford, N.C. On Wednesday, Oct. 25, 2017, the Commerce Department reports on sales of new homes in September. (Swayne B. Hall/Associated Press)

WASHINGTON (AP)- Sales of new U.S. homes jumped last month to the highest level since October 2007. It's a sign that Americans, unable to find existing homes, are turning to new construction.

The Commerce Department says new home sales leapt 18.9 percent in September to a seasonally adjusted annual rate of 667,000, the most in a decade. Sales rose in all regions, including the South, where they increased nearly 26 percent.

The government says it couldn't estimate what impact, if any, last month's hurricanes had on the data.

A supply crunch of existing homes has frustrated many would-be buyers and hobbled the housing market this year. September's figures suggest that Americans are increasingly looking to new homes instead, which could encourage more construction. Yet developers have struggled to keep up with demand.

  • Delmarvawide NewsDelmarvawide NewsMore>>

  • Route 589 Reopened in Worcester County

    Route 589 Reopened in Worcester County

    Tuesday, October 23 2018 12:01 AM EDT2018-10-23 04:01:48 GMT
    Tuesday, October 23 2018 12:01 AM EDT2018-10-23 04:01:48 GMT
    OCEAN PINES, Md.- A major road has been reopened in Worcester County, six weeks earlier than expected.More
    OCEAN PINES, Md.- A major road has been reopened in Worcester County, six weeks earlier than expected.More
  • Weather Impacts Local Farmers

    Weather Impacts Local Farmers

    Monday, October 22 2018 10:49 PM EDT2018-10-23 02:49:46 GMT
    Monday, October 22 2018 10:49 PM EDT2018-10-23 02:49:46 GMT
    After weeks of downpour, farmers may now receive financial assistance.After weeks of downpour, farmers may now receive financial assistance.
    After weeks of downpour, farmers may now receive financial assistance.After weeks of downpour, farmers may now receive financial assistance.
    We've experienced some wet weather this season and while you may think that's good for farm land...it's not. Many farmers say the rain has actually been too much for their crops.More
    We've experienced some wet weather this season and while you may think that's good for farm land...it's not. Many farmers say the rain has actually been too much for their crops. More
  • How A Medical Simulation Center Helps Rising Need for Nurses

    How A Medical Simulation Center Helps Rising Need for Nurses

    Monday, October 22 2018 6:49 PM EDT2018-10-22 22:49:31 GMT
    Monday, October 22 2018 6:49 PM EDT2018-10-22 22:49:31 GMT
    As the need for nurses rises in the U.S., Salisbury University is ahead of the curve.More
    As the need for nurses rises in the U.S., Salisbury University is ahead of the curve. More
  • Most Popular StoriesMost Popular StoriesMore>>

  • Halloween Age Limit For Trick-Or-Treaters

    Halloween Age Limit For Trick-Or-Treaters

    Monday, October 22 2018 4:35 PM EDT2018-10-22 20:35:08 GMT
    Monday, October 22 2018 4:35 PM EDT2018-10-22 20:35:08 GMT
    Halloween is nearly a week away and parents and kids are gearing up for the big day. But town and city officials throughout Sussex County are encouraging that only kids under twelve participate in trick-or-treating to increase safety.More
    Halloween is nearly a week away and parents and kids are gearing up for the big day. But town and city officials throughout Sussex County are encouraging that only kids under twelve participate in trick-or-treating to increase safety.More
  • Defense Says Witness Played Major Role in Prison Riot

    Defense Says Witness Played Major Role in Prison Riot

    Monday, October 22 2018 6:12 PM EDT2018-10-22 22:12:35 GMT
    Monday, October 22 2018 6:12 PM EDT2018-10-22 22:12:35 GMT
    Aerial view of the James T. Vaughn Correctional Center in Smyrna. (Photo: WBOC Chopper 16)Aerial view of the James T. Vaughn Correctional Center in Smyrna. (Photo: WBOC Chopper 16)
    Aerial view of the James T. Vaughn Correctional Center in Smyrna. (Photo: WBOC Chopper 16)Aerial view of the James T. Vaughn Correctional Center in Smyrna. (Photo: WBOC Chopper 16)
    he star prosecution witness in the trial of four Delaware inmates charged with murder, kidnapping and other crimes after a fatal prison riot played a key role in the disturbance and...More
    he star prosecution witness in the trial of four Delaware inmates charged with murder, kidnapping and other crimes after a fatal prison riot played a key role in the disturbance and...More
  • Clayton Police Chief Avoids Jail Time After DUI Arrest

    Clayton Police Chief Avoids Jail Time After DUI Arrest

    Monday, October 22 2018 4:18 PM EDT2018-10-22 20:18:14 GMT
    Monday, October 22 2018 4:18 PM EDT2018-10-22 20:18:24 GMT
    A police chief in Kent County will avoid jail time, after being charged with DUI.More
    A police chief in Kent County will avoid jail time, after being charged with DUI.More
  • Most Popular VideosMost Popular VideosMore>>

  • Weather Impacts Local Farmers

    Weather Impacts Local Farmers

    We've experienced some wet weather this season and while you may think that's good for farm land...it's not. Many farmers say the rain has actually been too much for their crops.

    More

    We've experienced some wet weather this season and while you may think that's good for farm land...it's not. Many farmers say the rain has actually been too much for their crops.

    More
  • Trial Begins for Inmates in Deadly Delaware Prison Riot

    Trial Begins for Inmates in Deadly Delaware Prison Riot

    The star prosecution witness in the trial of four Delaware inmates charged with murder, kidnapping and other crimes following a deadly prison riot last year played a key role in the disturbance and likely ordered the killing of a prison guard, a defense attorney claimed during opening statements Monday.

    More

    The star prosecution witness in the trial of four Delaware inmates charged with murder, kidnapping and other crimes following a deadly prison riot last year played a key role in the disturbance and likely ordered the killing of a prison guard, a defense attorney claimed during opening statements Monday.

    More
  • Halloween Age Limit For Trick-Or-Treaters

    Halloween Age Limit For Trick-Or-Treaters

    Halloween is nearly a week away and parents and kids are gearing up for the big day. But town and city officials throughout Sussex County are encouraging that only kids under twelve participate in trick-or-treating to increase safety among children. Cities like Seaford, Georgetown, Blades, even the town of Delmar said they all have these age limits in place. 

    More

    Halloween is nearly a week away and parents and kids are gearing up for the big day. But town and city officials throughout Sussex County are encouraging that only kids under twelve participate in trick-or-treating to increase safety among children. Cities like Seaford, Georgetown, Blades, even the town of Delmar said they all have these age limits in place. 

    More
Powered by Frankly

All content © Copyright 2000 - 2018 WBOC. All Rights Reserved. For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices