Ker-plunk! New Single-Family House Sales Drop 11.5 Percent

The autumn leaves weren’t the only thing that fell in September.

According to new data from the U.S. Census Bureau and the U.S. Department of Housing & Urban Development (HUD), sales of new single-family houses in September were at a seasonally adjusted annual rate of 468,000, which is 11.5 percent below the revised August rate of 529,000. However, September’s numbers were two percent above the September 2014 estimate of 459,000.

September’s median sales price of new houses sold $296,900, while the average sales price was $364,100. The seasonally adjusted estimate of new houses for sale at the end of September was 225,000, which represents a supply of 5.8 months at the current sales rate.