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AP National Business

New home sales jumped 14% in September

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KMIZ

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Published 9:20 AM

By MARTIN CRUTSINGER
AP Economics Writer

WSHINGTON (AP) — Sales of new homes jumped 14% in September to the fastest pace in six months as strong demand helped offset rising prices. The Commerce Department reported Tuesday that sales of new single-family homes rose to a seasonally adjusted annual rate of 800,000 units last month after sales had fallen 1.4% in August. The median price of a new home rose to $408,800 in September, up 9.5% from a year ago. Prices are being pushed higher by strong demand and increases being faced by builders who are grappling with shortages of critical building supplies such as lumber.

Article Topic Follows: AP National Business

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