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New home sales inch up again in September

New home sales rise 0.2 percent for month; trend 17 percent ahead of last year.


New FDIC lending rules ease down-payment restrictions.

In the face of builder worries about a possible residential speed bump ahead, sales of new single-family houses in September 2014 were at a seasonally adjusted annual rate of 467,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.

This is 0.2 percent (±15.7%)* above the revised August rate of 466,000 and is 17.0 percent (±20.6%)* above the September 2013 estimate of 399,000.

The median sales price of new houses sold in September 2014 was $259,000; the average sales price was $313,200.

The seasonally adjusted estimate of new houses for sale at the end of September was 207,000. This represents a supply of 5.3 months at the current sales rate.

Working to address builder concerns, the FDIC voted on Tuesday Oct. 21 to ease down-payment requirements for some new home mortgages. Mortgage applicants will no longer be required to pony up an initial 20 percent of the home's price if the lender holds at least 5 percent of the mortgage securities tied to the loan on its books.

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