Skip to main content

New-Home Sales Rise Slightly in September Over August

NationalMortgageProfessional.com
Oct 24, 2014

Sales of newly built, single-family homes inched up 0.2 percent in September to a seasonally adjusted annual rate of 467,000 units, the highest level in six years, according to newly released data by the U.S. Department of Housing & Urban Development (HUD) and the U.S. Census Bureau. Sales numbers for August were revised down from 504,000 to 466,000.

"Three consecutive months of sales upticks demonstrate steady growth in the housing market," said Kevin Kelly, chairman of the National Association of Home Builders (NAHB) and a home builder and developer from Wilmington, Del. "Consistent job creation and low mortgage interest rates are spurring the release of pent-up consumer demand."

The inventory of new homes for sale increased to 207,000 in September, which is a 5.3-month supply at the current sales pace.

Regionally, new home sales rose 12.3 percent in the Midwest and two percent in the South. Sales were unchanged in the Northeast and dropped 8.9 percent in the West.

"The August revision was not unexpected, as this figure seemed out of line with the modest housing recovery we have been seeing," said NAHB Chief Economist David Crowe. "The continuing increase in the inventory of new homes points to builders' confidence in the market."

Published
Oct 24, 2014
RMF: Payments Going Out In The Next 24 Hours

Company filed for Chapter 11 bankruptcy last week.

Industry News
Dec 06, 2022
Bankruptcy Court Approves RMF Requests

Payments to reverse mortgage borrowers to resume.

Industry News
Dec 05, 2022
Redfin Adds Zoning Data For More Than 70M Homes

Real estate brokerage teamed with Zoneomics to educate buyers on zoning implications.

Industry News
Dec 05, 2022
Guild Mortgage Acquires Inlanta Mortgage

Guild CEO says acquisition is part of broader plans to expand nationwide.

Industry News
Dec 02, 2022
Ohio Couple Sues Mr. Cooper Unit Over Loan Modification Denial

Seek class action status over denial of COVID-19

Industry News
Dec 01, 2022
Ready Life Changing The Homebuying Narrative

CEO says that the credit score system is an out-of-date barrier to people of color

Industry News
Nov 30, 2022