US new home sales showed a modest 2.7% rebound in September, helped by falling prices, government data shows today.
Sales of new one-family houses rose to an annualised pace of 464,000, above market expectations of 458,000.
Although the data showed a monthly gain, it was still down 33.1% from a year ago, reflecting the unprecedented meltdown in the US property market after a years-long boom.
The average sales price of new houses was $218,400, compared to $221,900 a month earlier.
The inventory of unsold homes fell slightly to 394,000, a supply of 10.4 months at the current sales rate.
