New Home Sales Declined 0.7 percent in September

New single-family home sales fell to a seasonally adjusted annual rate of 701,000 in September, according to the U.S. Census Bureau and the Department of Housing and Urban Development. The September level is 0.7 percent below the revised August rate of 706,000, but is 15.5 percent above the September 2018 estimate.

Sales declined in three of the four regions as the Northeast, South, and West saw decreases of 2.8 percent, 0.2 percent, and 3.8 percent, respectively. New home sales in the Midwest increased 6.3 percent.

The median price of a new home was $299,400. The average price was $362,700.

At the end of September, the seasonally adjusted estimated supply at the current sales rate was at 5.5 months.

Read the Census/HUD release.