Rate of new-home sales rises in September

Sales of new single-family homes in September 2012 were at a seasonally adjusted annual rate of 389,000, according to the U.S. Census Bureau and the Department of Housing and Urban Development.

This is 5.7% above the revised August rate of 368,000 and is 27.1% above the September 2011 estimate of 306,000.

The median sales price of new houses sold in September was $242,400; the average sales price was $292,400. The seasonally adjusted estimate of new houses for sale at the end of September was 145,000, which represents a supply of 4.5 months at the current sales rate.

The stats follow by about a week a Census Bureau report showing housing starts increased 15.0% in September over August.

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