Mount Kisco NY Real Estate | New home sales shoot up 5.7% in September

New single-family home sales rose 5.7% from August to September, with 389,000 homes sold last month, according to the  U.S. Census Bureau.
That is up from 368,000 sales in August and 27.1% above year ago levels when only 306,000 units were sold.
The median sales price of a home in September hit $242,400 while the average price hovered at $292,400.
"September’s rise in new home sales is another sign that homebuyers are becoming more willing and more able to splash out on a new home," research firm Capital Economics said in response to the report.
The number of new homes for sale at the end of September reached 145,000, which reflects a 4.5-month supply of homes at today's sales pace.
Econoday called the jump in home sales the best annual rate increase since mid-2010 when the market was still benefitting from homebuyer tax credits.
"September's gain is convincing and is led, with a 16.8% jump, by the South which is far larger than all other regions combined," Econoday said. "Supply, at 4.5 months for the lowest reading since 2005, is very tight and is limiting sales."

via housingwire.com