New Home Sales Remain Flat in September

Nationally, new residential homes sales in September remained flat compared to August according to the recent press release by the US Census Bureau and the Department of Housing and Urban Development. On a seasonally adjusted basis, 467,000 new single-family houses sold in September, only a 0.2% increase over August’s rate of 466,000 sales. Compared to the same time last year, new residential home sales were up by 17.0%.

At the current sales rate, the “estimated number of new houses for sale at the end of September was 207,000” representing a 5.3-month supply at the current sales pace. The average sales price in September was $313,200 while the median sales price was $259,000.

Regionally, the Midwest and South saw increases in new single-family home sales and sales in the Northeast remained unchanged from previous month. In the West, September new residential home sales were down by 8.9% compared to August, but were 19.1% greater than a year ago. Read more at http://1.usa.gov/10tP2Rv.

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