Image title


Sales of new single-family houses in September came in at a seasonally adjusted annual rate of 593,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. The rate was 3.1% above the downwardly-revised August rate of 575,000 and 29.8% above the September 2015 estimate of 457,000.


Three of four regions reported month-to-month gains, with the Northeast rising 33.3% to a seasonally adjusted rate of 32,000. The Midwest and South picked up 8.6% and 3.4%, respectively. The West was the only region that saw sales slump over the course of last month, dropping -4.5% to 147,000. All regions made significant gains compared to a year ago, with the Northeast leaping by 60%, the largest improvement year-over-year.


The median sales price of new houses sold in September 2016 was $313,500, up from $293,800 in August and $307,600 a year earlier. The seasonally adjusted estimate of new houses for sale at the end of September was 235,000, representing a supply of 4.8 months at the current sales rate.

New homes priced from $200,000 to $299,999, and from $300,000 to $399,000 were the most popular price ranges for September, each accounting for about 29%, of total new homes sold in last month. These two price ranges also saw a huge sales bump year-over-year, as more people are buying homes priced in the middle-tier. Home sales between $500,000 and $749,000 gained some momentum in the past year as well, signaling an uptick in the luxury, higher-end home market. In contrast, sales of affordable, entry-level homes continued to decline, due in part to the tight inventory for more affordable homes seen across the board.

Search  affordable homes for sale in Bluffton just click here. 

Carletha M. Frazier Singleton, Real Estate Broker 

eXp Realty Hilton Head


Carletha Singleton Headshot
Phone: 843-227-0054
Dated: November 2nd 2016
Views: 101
About Carletha: ...

Property Search

RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

eXp Realty Hilton Head Island SC
711 Fairview St
Fountain Inn, SC