New Home Sales Spike 14% In September

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By Associated Press
October 26, 2021

In September, caller location income successful the U.S. saw the highest summation since March of this year.

Sales of caller homes jumped 14% successful September to the fastest gait successful six months arsenic beardown request helped offset rising prices.

The Commerce Department reported Tuesday that income of caller single-family homes roseate to a seasonally adjusted yearly complaint of 800,000 units past month, which was good supra what economists had been expecting.

However, the authorities revised little its estimates for income successful the erstwhile 2 months with August present showing a 1.4% diminution to a complaint of 702,000 units.

The September income gait was the strongest since income reached an yearly complaint of 873,000 successful March.

The median terms of a caller home, the constituent wherever fractional the homes sold for much and fractional for less, roseate to a grounds $408,800 successful September, up 9.5% from a twelvemonth ago. The mean income prices successful September accrued to $451,700, up 11.5% from a twelvemonth ago.

Prices are being pushed higher by beardown request and increases being faced by builders who are grappling with shortages of captious gathering supplies specified arsenic lumber.

The study showed that income roseate successful each parts of the state successful September but for the Midwest, wherever they slipped 1.5%. Sales were up 32.3% successful the Northeast, 17.5% successful the South and 8.2% successful the West.

Additional reporting by The Associated Press.