Sales of new single-family homes were at a seasonally adjusted annual rate of 1.075 million last month, 5.3% above the revised August rate of 1.021 million, the U.S. Commerce Department and the U.S. Department of Housing and Urban Development reported on Oct. 26. September's rate this year, however, was 14.2% below last September's rate of 1.253 million.
The median sales price of new homes sold in September was $217,100; the average price was $293,200. At month's end, there were 557,000 new homes for sale, a 6.4 month supply.
