BELOW SUPERNAV drop zone ⇩

New home sales jumped 14% in September

MAIN AREA TOP drop zone ⇩

MAIN AREA TOP drop zone ⇩

ovp test

mLife Diagnostics LLC: Oral Fluid Drug Testing

Male shot by female at Shreveport apartment

Class to create biodiverse backyard

Rules for outbursts at Caddo School Board Meeting

Mortgage Calculator

This calculator helps you estimate your monthly mortgage payment. It adds up the loan payment (principal + interest), property tax, and insurance. The loan payment is spread out over the years of your loan term.

This is the total amount you're borrowing from the bank.
This is the yearly interest rate on your loan.
This is how long you'll take to repay the loan.
This is the yearly tax you pay on your property.
This is the yearly cost to insure your home.

Monthly Payment Breakdown

Principal and Interest: $

Property Tax: $

Homeowners Insurance: $

Total Estimated Monthly Payment: $

WASHINGTON (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, which was well above what economists had been expecting.

However, the government lowered its estimates for sales in the previous two months, with August now showing a 1.4% decline to a rate of 702,000 units.

The September sales pace was the strongest since sales reached an annual rate of 873,000 in March.

The median price of a new home, the point where half the homes sold for more and half for less, rose to a record $408,800 in September, up 9.5% from a year ago. The average sales prices in September increased to $451,700, up 11.5% 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.

“We expect new home sales to move mostly sideways over the rest of 2021 as strong demand and low mortgage rates are tempered by high prices and construction backlogs,” said Nancy Vanden Houten of Oxford Economics.

The report showed that sales rose in all parts of the country in September except for the Midwest, where they slipped 1.5%. Sales were up 32.3% in the Northeast, 17.5% in the South and 8.2% in the West.

The report on new home sales followed news last week that sales of existing homes rose to a seasonally adjusted annual rate of 6.29 million units in September, the strongest pace since January.

Business

Copyright 2024 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed

Site Settings Survey

 

MAIN AREA MIDDLE drop zone ⇩

Trending on NewsNation

MAIN AREA BOTTOM drop zone ⇩

tt

KC Chiefs parade shooting: 1 dead, 21 shot including 9 kids | Morning in America

Witness of Chiefs parade shooting describes suspect | Banfield

Kansas City Chiefs parade shooting: Mom of 2 dead, over 20 shot | Banfield

WWE star Ashley Massaro 'threatened' by board to keep quiet about alleged rape: Friend | Banfield

Friend of WWE star: Ashley Massaro 'spent hours' sobbing after alleged rape | Banfield

Clear

la

50°F Clear Feels like 50°
Wind
0 mph NNW
Humidity
82%
Sunrise
Sunset

Tonight

Some clouds this evening will give way to mainly clear skies overnight. Low 54F. Winds NNW at 5 to 10 mph.
54°F Some clouds this evening will give way to mainly clear skies overnight. Low 54F. Winds NNW at 5 to 10 mph.
Wind
10 mph NNW
Precip
12%
Sunset
Moon Phase
Waxing Gibbous