New Residential Sales Continue to Build in September
Rate surges 5.7 percent for month; trends 27.1 percent over September 2011.
Sales of new single-family houses in September 2012 were at a seasonally adjusted annual rate of 389,000, 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 (±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.
