US new home sales edged higher to 467,000 in September
Updated : 15:09
US new home sales edged higher by 0.2% month-on-month in September to reach an annualised rate of 467,000, according to the Department of Commerce.
The consensus forecast had been for 470,000.
September’s reading was 17% above the year-ago figure.
Significantly, the previous month’s estimate was revised sharply downwards, to reveal 466,000.
The median sales price of a new home sold last month was $259,000, well off of August’s reading of $286,800. Average home prices, however, only moved slightly lower, to hit $349,300 in comparison to $350,100 in the month before.
The supply of new homes for sale remained unchanged at 5.3 months’ worth of stock.