September New Home Sales Up, Prices Down

Commerce Department releases September numbers. New homes sales were up after four consecutive months of decline. Lower prices are credited with the change.

Palm Coast, FL – October 26, 2011 – Sales of new single-family houses in September 2011 were at a seasonally adjusted annual rate of 313,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and urban Development. This is 5.7 percent (±18.4%) above the revised August rate of 296,000, but is 0.9 percent (±16.3%) below the September 2010 estimate of 316,000. The increase follows four consecutive months of declining sales.

The median sales price of new houses sold in September 2011 was $204,000; the average sales price was $243,000. August median and average sales prices were $249,100 and $246,000 respectively. The seasonally adjusted estimate of new houses for sale at the end of September was 163,000. This represents a supply of 6.2 months at the current sales rate.
Read the Full Report  >>>> [pdf]
0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply