Industry NewsMarkets & Economy

New-home sales ease up from record low

The West sees biggest sales drop in September

Don't miss the real estate event of the summer
Join 4,000 real estate pros at Connect SF, Aug 7‑11, 2017

The sales pace of new single-family homes rose 6.6 percent in September from a record low in July and August, the U.S. Department of Housing and Urban Development and Census Bureau announced today.The agencies estimated that last month's sales were at a seasonally adjusted annual rate of 307,000, up from August's estimate of 288,000 but down 21.5 percent from September 2009. Regionally, the West fared the worst in September: the region saw the biggest year-over-year drop, down 33.3 percent to 64,000, and was the only region to see a month-to-month drop, down 9.9 percent. The South, which made up the bulk of new-home sales at 160,000, saw the sales pace rise a modest 3.2 percent month-to-month, and saw the smallest year-over-year decrease, 16.2 percent. The Northeast, which had the nation's smallest share of sales at 30,000, saw sale increase 3.4 percent month-to-month, but drop 18.9 percent year-over-year. The Midwest accounted for much of the country's increase in sales from Augus...