U.S. New Home Sales Rose in September, Beating Expectations

Purchases of new single-family houses in the U.S. rose in September amid strong demand and improved supply in recent months. Here are the main takeaways from the Commerce Department's report released Tuesday:

--New home sales increased 14.0% in September compared with August to a seasonally adjusted annual rate of 800,000.

--Sales beat the forecast of economists polled by The Wall Street Journal, who expected a 2.7% increase to a seasonally adjusted annual rate of 760,000.

--Sales were 17.6% below the same month a year earlier, when sales roles to a seasonally adjusted annual rate of 971,000.

--New home sales in August were downwardly revised to 702,000 from an earlier estimate of 740,000.

--Monthly new residential sales data is volatile and often revised. Data for September came with a margin of error of 17.9 percentage points.

--The median price of a new home was $408,800 in September, up from $401,500 in August.

--The seasonally adjusted estimate of new houses for sale at the end of September was 379,000. This represents a supply of 5.7 months at the current sales rate.

Write to Xavier Fontdegloria at xavier.fontdegloria@wsj.com


  (END) Dow Jones Newswires
  10-26-21 1023ET
  Copyright (c) 2021 Dow Jones & Company, Inc.

News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.