U.S. single-family home sales up 5 percent

New York /
Oct.October 24, 2012 11:00 AM

New single-family home sales spiked last month, according to a release issued by the U.S. Census Bureau and the Department of Housing and Urban Development. September’s numbers have reached their highest level since April 2010, when a first-time buyer tax credit gave sales got a boost, Reuters reported.

Sales gained 5.7 percent in September to a seasonally adjusted rate of 389,000 units. August’s number initially came in at 373,000 units, as The Real Deal previously reported, but was revised down to 368,000. Year-over-year, September’s seasonally adjusted rate shows a 27.1 percent year-over-year gain.

Despite an unexpected plummet in June, the tally picked up some steam in July with a 3.6 percent month-over-month rise.

The median sales price of new homes last month came in at $242,400, and the average sales price at $292,400.

As reported yesterday, home prices rose in the second quarter of 2012 by the greatest amount in more than six years thanks in part to the Federal Reserve’s policy of buying up mortgage-backed securities.

Regionally, results were generally in the positive territory. The Midwest was the only region to post both month-over-month and year-over-year declines: 37.3 percent and 31.9 percent, respectively. Month-over-month, the West, Northeast and South posted respective 3.9 percent, 16.7 percent and 16.8 percent gains. — Zachary Kussin


Related Articles

arrow_forward_ios
(Getty)
Fifth straight monthly decline in pending home sales
Fifth straight monthly decline in pending home sales
(Photo Illustration by Steven Dilakian for The Real Deal with Getty)
Borrowers are back: Mortgage applications rise
Borrowers are back: Mortgage applications rise
(Getty; Illustration by Kevin Rebong for The Real Deal)
Investor home purchases plummet 30%
Investor home purchases plummet 30%
1350 Ladera Circle with Elvis and Priscilla Presley (Realtor, Getty)
Elvis and Priscilla Presley’s Palm Springs honeymoon getaway sells for $6M
Elvis and Priscilla Presley’s Palm Springs honeymoon getaway sells for $6M
Gail Harmon with Tippity Wichity Island (Harmon, Curran, Spielberg & Eisenberg; ​​​​​Sotheby’s International Realty)
Mysterious island off Chesapeake Bay lists for $2.1M
Mysterious island off Chesapeake Bay lists for $2.1M
Willie Nelson and 3108 Greer Road in Tennessee (Getty, McArthur Sanders Real Estate)
Willie Nelson’s former “Hideaway” lists for $2.5M
Willie Nelson’s former “Hideaway” lists for $2.5M
House torn in half
Maryland couple up against squatters claiming their house
Maryland couple up against squatters claiming their house
(Illustration by The Real Deal with Getty)
What crash? Long Island home prices stronger than ever
What crash? Long Island home prices stronger than ever
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...