U.S. Government Reports New Residential Home Sales Slip in September

Residential News » Residential Real Estate Edition | By Michael Gerrity | October 28, 2009 10:14 AM ET

(WASHINGTON, D.C.) -- The U.S. Census Bureau and the Department of Housing and Urban Development reported today that the sales of new one-family houses in September 2009 were at a seasonally adjusted annual rate of 402,000.

This is 3.6 percent (±10.2%) below their revised August rate of 417,000 and is 7.8 percent (±12.0%) below the September 2008 estimate of 436,000.

The Government also reported the median sales price of new houses sold in September 2009 was $204,800; the average sales price was $282,600. The seasonally adjusted estimate of new houses for sale at the end of September was 251,000.

This represents a supply of 7.5 months at the current sales rate.

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