The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the new residential sales statistics for September 2018, the government agencies announced in a release.
The sales of new single-family houses in September were at a seasonally adjusted annual rate of 553,000. This is 5.5 percent below the revised August rate of 585,000 and is 13.2 percent below the September 2017 estimate of 637,000, the agencies reported.
“The median sales price of new houses sold in September 2018 was $320,000, while the average sales price was $377, 200,” the agencies said.
For sale inventory and months’ supply, the seasonally adjusted estimate of new houses for sale at the end of September was 327,000. This represents a supply of 7.1 months at the current sales rate.
The October report is scheduled for release Nov. 28, 2018.