October 28, 2009 – 11:42 am
This month single family new home sales fell for the first time since March. The annual pace of new homes sales was 402,000 sales per year, well below economist expectations for a pace of 440,000 annual new home sales. This is a 3.6% month over month decline. August new home sales data was also revised lower, from 429,000 to 417,000 sales per year.
New home supply was unchanged at 7.5 months. The median home sale price was 204,800, 9.1% lower from September 2008.
New home sales in the Northeast were unchanged, the Mid-West was 34% higher, the South experienced 10% less new home sales, and the West was 10.6% slower. Once again, only one geographical region experiences growth....(
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