US homebuilders push to keep up with demand in October: data

Washington (AFP) – The booming US housing market showed no sign of letting up in October as new home construction rose more than expected even as permits stayed flat, government data showed Wednesday.The real estate market has been one of the few consistent bright spots amid the gloom of the worsening coronavirus pandemic, with buyers aided by low mortgage rates snapping up properties despite the broader economic malaise.That has led to a tightening of inventories and increase in average sale price for both new and existing properties, and the data from the departments of Commerce and Housing …

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HEDGE accordingly