Posted October 25, 2017

September new home sales hit 10-year high

Sales jump 18.9 percent for month; average price is $385,200.

The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential sales statistics for September 2017:

New Home Sales
Sales of new single-family houses in September 2017 were at a seasonally adjusted annual rate of 667,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.

This is 18.9 percent (±19.0 percent)* above the revised August rate of 561,000 and is 17.0 percent (±22.4 percent)* above the September 2016 estimate of 570,000.

This is the highest rate since October 2007. Year to date, new home sales are 8.6 percent above their level over the same period last year.

Sales Price
The median sales price of new houses sold in September 2017 was $319,700. The average sales price was $385,200.

For Sale Inventory and Months’ Supply
The seasonally-adjusted estimate of new houses for sale at the end of September was 279,000. This represents a supply of 5.0 months at the current sales rate.