US New Home Sales Above Forecasts
Sales of new single-family homes in the United States jumped 4.1% to a seasonally adjusted annual rate of 738,000 in September 2024, the highest level since May 2023, following a downwardly revised 709,000 in August and above forecasts of 720,000.
Sales soared 21.7% to 28,000 in the Northeast and were up 5.8% to 477,000 in the South, but fell 2.5% to 77,000 in the Midwest and steadied at 156,000 in the West.
The median price of new houses sold in the period was $426,300, while the average sales price was $501,000, compared to $426,100 and $515,000 respectively a year earlier. Meanwhile, there were 470,000 new homes listed for sale during the period, representing about 7.6 months of supply at the latest sales rate.
Source : Trading Economics