New Home Sales Taper Off in September – Year-Over-Year Up 32.1%

The U.S. Census Bureau reported that the sales of new single-family houses in September 2020 were at a seasonally adjusted annual rate of 959,000. This is -3.5% below the revised August rate of 994,000 but is 32.1% above the September 2019 estimate of 726,000. The seasonally adjusted estimate of new houses for sale at the end of September was 284,000. This represents a supply of 3.6 months at the current sales rate. The median sales price of new houses sold in September 2020 was $326,800. The average sales price was $405,400.