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New Home Sales In Midwest Declines For Second Consecutive Month

New home sales in the U.S. in September lost some steam declining 11.5 percent from August, however, let’s not forget, August was a record month for U.S. New Home Sales which sold at the highest annual rate since February of 2008, according to a report just released by the U.S. Commerce Department.  New homes sold in September at a seasonally-adjusted, annual-rate, of 468,000 homes, a decrease of  11.5 percent from the month before an an increase of 2.0 percent from September 2014 when new homes sold at an annual rate of 459,000 homes.

Midwest New Home Sales Fall For Second Month in a Row..

Here in the midwest region, new homes sold in September at a seasonally-adjusted, annual-rate, of 55,000 homes, a decline of 8.3 percent from August and also a decline 8.3 percent from September 2014 when new homes sold in the Midwest region at a rate of 60,000 homes per year.

The new home supply in the United States increased in September 18.4 percent to 5.8 months from a 4.9 month supply the month before and increased 5.5 percent from September 2014 when there was a 5.5 month supply.

New home prices rose 2.6% in September to a median price of $296,900 from $289,100 the month before and is 13.5% higher than a year ago when the median price of new homes sold in the U.S. was $261,500.

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