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September New Home Sales in U.S. Jump 27% Over Last Year

According to the U.S. Census Bureau and the Department of Housing and Urban Development (HUD), sales of new single-family houses in September 2012 were at a seasonally adjusted annual rate of 389,000.

This is 5.7 percent (±14.8%) above the revised August rate of 368,000 and is 27.1 percent (±19.3%) above the September 2011 estimate of 306,000.

The median sales price of new houses sold in September 2012 was $242,400; the average sales price was $292,400.  The seasonally adjusted estimate of new houses for sale at the end of September was 145,000.  This represents a supply of 4.5 months at the current sales rate.

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