September new home sales jumped 5.7% to 389,000, up from the August level of 368,000. This marks the highest pace for new home sales since April 2010, during the first-time homebuyer tax credit. The new home supply dropped from 4.7 months i...
n August to 4.5 months for September.
The New Home Sales report shows the number of newly constructed homes with a committed sale during the month. It is compiled through nationwide survey of 10,000 builders/owners of 15,000 building projects and through sampling of permit-issuing offices, as well as land not covered by building permits. The data is timely and is used in conjunction with the existing home sales release from the National Association of Realtors. The level of new home sales indicates housing market trends, and economic momentum signaling consumer purchases of furniture and appliances. Simply, the volume of sales indicates housing demand.
The New Home Sales report shows the number of newly constructed homes with a committed sale during the month. It is compiled through nationwide survey of 10,000 builders/owners of 15,000 building projects and through sampling of permit-issuing offices, as well as land not covered by building permits. The data is timely and is used in conjunction with the existing home sales release from the National Association of Realtors. The level of new home sales indicates housing market trends, and economic momentum signaling consumer purchases of furniture and appliances. Simply, the volume of sales indicates housing demand.
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