New home sales decreases in September

New single-family home sales fell to a seasonally adjusted annual rate of 603,000 in September, according to the U.S. Census Bureau and the Department of Housing and Urban Development. The September level is 10.9% below the revised August rate of 677,000 and is 17.6% below the September 2021 estimate of 732,000.

The median sales price of new houses sold in September 2022 was $470,600. The average sales price was $517,700

At the end of September, the seasonally adjusted estimated supply at the current sales rate was at 9.2 months.

Read the Census/HUD release.