The U.S. Census Bureau this morning released data on new single-family home sales for September. Sales rose 5.7% month-over-month, to a seasonally adjusted annual rate of 389,000. Economists had been expecting a seasonally adjusted annual rate of 386,000. The September number is 27.1% higher than the total for September 2011, and is the highest number since April 2010. At the peak in 2005, new home sales posted a seasonally adjusted annual rate of nearly 1.4 million.
The Census Bureau also reported that the median sales price for new homes sold in September was $242,400 and the average sales price was $292,400. In August, the median sales price for a new house was $256,900 and the average sales price was $273,900.
At the end of September the number of new homes for sale totaled 145,000, a supply of 4.5 months, up slightly from an inventory totaling 141,000 at the end of August.
The Mortgage Bankers Association reported earlier today that mortgage applications for purchases fell by 8% last week. The average contract interest rate for a 30-year fixed rate conforming mortgage rose to 3.63% last week. Refinancings made up 81% of the new mortgage applications.
Paul Ausick
Credit card companies are handing out rewards and benefits to win the best customers. A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges. See our top picks for the best credit cards today. You won’t want to miss some of these offers.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
