David Bruce

October 29th, 2008

September New Home Sales Up

Nationwide sales of newly constructed homes rose in September, but the median selling price dropped.The September report from the US Census Bureau finds new home sales were up 2.7 percent from Aug. to an annualized rate of 464,000. Sales are down 33 percent from September 2007, and far below the pace during the boom years.

The median new home sales price in the United States for September declined to $218,400, down from $221,900 in August, while the mean selling price was $275,500, up from $263,900.

According to the report, new homes sales jumped 22 percent in the West, which has seen some of the nation’s steepest price drops, while sales in other regions were down or flat. However, sales in the West still are off nearly 38 percent on a year-over-year basis.

The new home sales report followed news last week that sales of existing homes rose in September by 5.5 percent, the largest monthly gain in more than five years.

This entry was posted on Wednesday, October 29th, 2008 at 5:31 pm and is filed under New Homes and Developments, Real Estate News and Statistics. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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