Although new-home sales were significantly lower than a year ago, September’s seasonally adjusted annual rate of 464,000 units was 2.7 percent higher than August, the U.S. Census Bureau and Department of Housing and Urban Development reported today.

Compared to August, sales of single-family homes increased the most in the West where they jumped 22.7 percent to a 108,000-unit rate. In the South, sales were up 0.7 percent to a 269,000-unit pace. Sales in the Northeast and Midwest were down considerably, falling 21.4 percent (to a 22,000-unit pace) and 5.8 percent (to a 65,000-unit rate), respectively.

The median price of new homes sold in September — $218,400 — dipped 1.6 percent from $221,900 in August.

According to the data, the seasonally adjusted estimate of new houses for sale at the end of September was 394,000, which represents a supply of 10.4 months at the current sales rate, down from 10.9 months in August.

A report from the National Association of Realtors Friday revealed September sales of existing homes were up (5.5 percent from August and 1.4 percent from a year ago) to 5.18 million units (seasonally adjusted), while the median home price declined 9 percent to $191,600. The supply of existing homes for sale at the end of September was reportedly lower at 9.9 months.


What’s your opinion? Leave your comments below or send a letter to the editor.

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription