Please Follow Us On:

Follow Delta Gypsum on LinkedIn

Delta Gypsum on LinkedIn

Friday, October 26, 2012

New Home Sales Rise in September

New Home Sales Rise Solidly
· New home sales rose solidly in September, paced by strong
gains in the South. The South, which accounts for just over half
of the nation’s new home sales, posted a 16.8 percent gain in
September, pushing sales to a 215,000-unit pace.
· Sales also rose modestly in the Northeast and West, but fell
37.3 percent in the Midwest. The outsized drop in the Midwest
looks suspicious, but growth has slowed there recently.

New Home Inventories Remain Exceptionally Lean
· September’s solid gain in new home sales is keeping inventories
exceptionally low at just a 4.5 months’ supply.
· Lean new home inventories are helping drive prices higher. The
median price of a new home has risen 11.7 percent over the past
year, while the average price has jumped 14.5 percent. Plenty of
foreclosures are still for sale and that is keeping the gap between
the median new and existing home price unusually wide.

No comments:

Post a Comment