Low demand and an abundance of supply saw home sales and construction activity decline in the last six months. New home sales declined to 117,000 in the third quarter, 15.8% up from 139,000 a quarter earlier, with lower sales in the South, West, Midwest and North-east, while housing construction fell to 296,400, from 349,200, according to the US Census Bureau. However, the residential rental vacancy rate increased to 7.3% in the third quarter, from 6.8% a quarter earlier, while the median asking rent fell to US$802 per month, from US$803 per month. @MergentInc #industryreports @property
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