The
U.S. Commerce Department announced on Tuesday that the sales of new
single-family homes surged 14.0 percent m-o-m to a seasonally adjusted annual
rate of 800,000 units in September.
Economists
had forecast the sales pace of 760,000 last month.
August’s
sales pace was revised down to 702,000 units from the originally reported 740,000
units.
According
to the report, new home sales in the South, the largest area, soared 17.5
percent m-o-m in September, while those in the Northeast climbed 32.3 percent
m-o-m and in the West jumped 8.2 percent m-o-m. In the meantime, new home sales
in the Midwest dropped 1.5 percent m-o-m.
The
report also showed that median sales price climbed 18.7 percent y-o-y to $408,800.
In
y-o-y terms, new home sales were down 17.6 percent in September.