Market Updates
New Home Sales Sored to 19-month High
Brian Turner
25 Oct, 2023
New York City
Single-family new home sales soared 12.3% to a seasonally adjusted annual rate of 759,000, the U.S. Census Bureau reported Wednesday.
The new home sales jumped 12.3% above the revised August rate of 676,000 and are 33.9% above the September 2022 estimate of 567,000.
The median sales price of new homes sold in September was $418,800, and the average sales price increased to $503,900, compared to 477,700 and $530,100, respectively, a year ago.
At the end of September, 435,000 homes were available for sale, equivalent to 6.9 months of supply at the current sales rate.
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