New Home Sales Rise In September
October 26, 2011 by UPI - United Press International, Inc.
WASHINGTON, Oct. 26 (UPI) — Sales of new single-family homes rose 5.7 percent from August to September, the U.S. Commerce Department said Wednesday.
Home sales in September came in at a seasonally adjusted annual rate of 313,000. In August, 296,000 new homes were sold, the department said releasing a revised figure..
The rate of home sales in September came in 0.9 percent below the 316,000 new single-family homes sold in the same month of 2010.
The Commerce Department said the average sale price for a new home sold in September was $204,400, down from $209,100 in August.
Going into October, there were 163,000 new homes on the market, a 6.2-month supply at the current rate of sales, the Commerce Department said.