On Wednesday (10-26-22), the U.S. Census Bureau and the Department of Housing and Urban Development jointly announced that new residential single-family home sales for September were at a seasonally adjusted annual rate (SAAR) of 603,000, according to estimates. This is 10.9% below the revised August rate of 677,000 and is 17.6% below the September 2021 estimate of 732,000.
The median sales price of new houses sold in September was $470,600. The average sales price was $517,700.
The seasonally adjusted estimates of new houses for sale at the end of September was 462,000. This represents an 9.21-month supply based on the current rate of sales.
FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.