New home sales dip in September but remain hot for fall
UPDATED 11:15 AM PT – Monday, October 26, 2020
New home sales dipped in September but they have remained unusually hot for the typically slow fall season. On Monday, the U.S. Department of Commerce reported sales of newly built homes fell 3.5 percent throughout the month of September but still remained 32 percent higher when compared to a year ago.
— U.S. Census Bureau (@uscensusbureau) October 26, 2020
The northeast saw the largest drop at 28 percent, while the west saw an increase of 3.8 percent in new sales. New home prices continued to rise throughout the month with the median price at $326,800.
Median price rose to $326,800
Northeast saw largest drop at 28%, sales rose 3.8% in the West
— Greta Wall (@GretaLWall) October 26, 2020
So far in 2020, new sales have been 17 percent higher compared to the same time period in 2019.