U.S. New Home Sales Slip in September
By Xavier Fontdegloria
Purchases of new single-family houses in the U.S. decreased in
September, breaking a four-month streak of gains. Here are the main
takeaways from the Commerce Department's report released
--New home sales fell 3.5% in September compared with August to
a seasonally adjusted annual rate of 959,000.
--The reading missed economists expectations polled by The Wall
Street Journal, who had expected a 1% increase to a seasonally
adjusted annual rate of 1.02 million.
--September sales were 32.1% above the same month a year
--August new home sales were downwardly revised to 994,000 from
an earlier estimate of 1,011,000.
--Monthly new residential sales data is volatile and often
revised. September's figures came with a margin of error of 19.9
--The median price of a new home was $326,800, up from $315,700
the same month a year earlier.
--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.
Write to Xavier Fontdegloria at email@example.com
(END) Dow Jones Newswires
October 26, 2020 10:21 ET (14:21 GMT)
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