New-Home Sales Rise 6.6 Percent in September

From Sales of newly built, single-family homes rose 6.6 percent in September to a seasonally adjusted annual rate of 307,000 units, their best pace since June, according to data released by the U.S. Commerce Department today.

Sales of newly built homes rose in three out of four regions in September, with the Northeast posting a 3.4 percent gain, the South a 3.2 percent gain, and the Midwest a remarkable 60.6 percent gain following a big decline in August. The West posted a 9.9 percent decline in new-home sales for September. Due to the improved sales pace, the month’s supply of new homes for sale declined from 8.6 in August to 8.0 in September.