New Home Sales Rise to Double Digit Annual Gain

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Posted To: MND NewsWire

New home sales came in at a respectable seasonally adjusted annual rate of 701,000 in September, down only 0.7 percent from the revised rate of 706,000 in August. The August rate was originally estimated at 713,000. Sales of newly constructed homes are now running 15.5 percent higher than a year earlier when the annual rate was 607,000 units. The September number was slightly above what analysts had expected. Those polled by Econoday had may predictions in a range from 675,000 to 730,000 units. Their consensus was 698,000 home sales. On a non-adjusted basis, there were 54,000 homes sold during the month compared to 57,000 in August. Over the first nine months of this year sales have totaled 527,000 units. This is a 7.2 percent increase over the 491,000 sold over the same period in 2018. The…(read more)

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