Sales of housing units under construction increased in October 2009 while sales of completed new housing units remained flat, according to estimates released by the US Census Bureau.
According to the estimates, the total number of new homes sold in October 2009 increased to 35,000 from 31,000 in the previous month. Over 30% of these units, and particularly 11,000, were under construction at the time of the sale, representing an increase compared to the 10,000 units under construction sold in the previous month.
Despite the increase in sales of housing units under construction their share to total new housing units sold decreased from 32.3% in September to 31.3% in October.
The sales of housing units that had been already completed remained flat at 14,000 in October 2009 but their share in total sales of new homes dropped to 40% from 45% in the previous month.
Most of the increase in sales of new homes in October 2009 actually represented units that had not started at the time of sale, as they registered sales of 10,000 units, representing an increase of 3,000 compared to the estimated 7,000 units that were sold in September. Thus, sales of housing units that had not started increased their share of total new home sales from 22.6% in September to 28.6% in October.
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