New Residential Sales Up From Last Year

Sales of new one-family houses in September 2003 were at a seasonally adjusted annual rate of 1,145,000, according to estimates released jointly by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. This is 0.2 percent (±8.7%) below the revised August rate of 1,147,000, but is 8.3 percent (±11.4%) above the September 2002 estimate of 1,057,000.

The median sales price of new houses sold in September 2003 was $187,400; the average sales price was $256,200. The seasonally adjusted estimate of new houses for sale at the end of September was 342,000. This represents a supply of 3.7 months at the current sales rate.