U.S. New Home Sales Rose in September, Beating Expectations
October 26 2021 - 10:38AM
Dow Jones News
By Xavier Fontdegloria
Purchases of new single-family houses in the U.S. rose in
September amid strong demand and improved supply in recent months.
Here are the main takeaways from the Commerce Department's report
released Tuesday:
--New home sales increased 14.0% in September compared with
August to a seasonally adjusted annual rate of 800,000.
--Sales beat the forecast of economists polled by The Wall
Street Journal, who expected a 2.7% increase to a seasonally
adjusted annual rate of 760,000.
--Sales were 17.6% below the same month a year earlier, when
sales roles to a seasonally adjusted annual rate of 971,000.
--New home sales in August were downwardly revised to 702,000
from an earlier estimate of 740,000.
--Monthly new residential sales data is volatile and often
revised. Data for September came with a margin of error of 17.9
percentage points.
--The median price of a new home was $408,800 in September, up
from $401,500 in August.
--The seasonally adjusted estimate of new houses for sale at the
end of September was 379,000. This represents a supply of 5.7
months at the current sales rate.
Write to Xavier Fontdegloria at xavier.fontdegloria@wsj.com
(END) Dow Jones Newswires
October 26, 2021 10:23 ET (14:23 GMT)
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