Commerce Department announced on Monday that the sales of new single-family
homes fell 3.5 percent m-o-m to a seasonally adjusted annual rate of 959,000
units in September.
Economists had forecast the sales pace of 1,025,000 last month.
August’s sales pace was revised down to 994,000 units from the originally reported 1,011,000 units.
According to the report, new home sales in the South, the largest area, fell 4.7 percent m-o-m in September. Sales in the Northeast tumbled 28.9 percent m-o-m, while sales in the Midwest decreased 4.1 percent m-o-m. Meanwhile, sales in the West increased 0.7 percent m-o-m.
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