The September report from the US Census shows an increase of New Home Sales for September 2011.
Sales of new single-family houses in September 2011 were at a seasonally adjusted annual rate of 313,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 5.7 percent (±18.4%)* above the revised August rate of 296,000, but is 0.9 percent (±16.3%)* below the September 2010 estimate of 316,000. p , The median sales price of new houses sold in September 2011 was $204,400; the average sales price was $243,900. The seasonally adjusted estimate of new houses for sale at the end of September was 163,000. This represents a supply of 6.2 months at the current sales rate.
Calculated Risk has great charts on this report. View Calculated Risk’s Post.
The report also gets into the Midwest regions figures. This region covers a large geographic area so it is not a true reflection on our local market, but still interesting to see. The Midwest region is down 12.2% from August to September 2011. Not the greatest news but keep in mind the size of the midwest region, which includes Illinois and Michigan.