US New Home Sales at Near 10-Year High

Sales of new single-family houses in the United States jumped 18.9 percent to a seasonally adjusted annual rate of 667 thousand in September of 2017, beating market expectations of a 0.9 percent decline. It is the highest value since October of 2007 and the largest percentage gain since January of 1992. Sales rose in all four regions with those in the South surging 25.8 percent after a 1 percent fall in August which was partly the result of Hurricanes Harvey and Irma.

Sales rose in the South (25.8 percent to 405 thousand), the West (2.9 percent to 141 thousand), the Midwest (10.6 percent to 73 thousand) and the the Northeast (33.3 percent to 48 thousand). 

The median sales price of new houses sold was $319,700, above $314,800 a year earlier. The average sales price was $385,200, also higher than $366,100 in September of 2016.

The stock of new houses for sale was flat at 279 thousand. This represents a supply of 5 months at the current sales rate.

Year-on-year, new home sales increased 17 percent. 

US New Home Sales at Near 10-Year High

US Census Bureau | Joana Taborda |
10/25/2017 2:13:46 PM