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UPDATE: September New Home Sales data is out. The number was 389K new units sold at an annualized rate, above estimates of 385K.That represents a 5.7 per cent rise from last month.
The 5.7 per cent gain also results from a downward revision last month.
August New Home Sales data was revised down to 368K from 373K. That represents a 1.3 per cent drop last month, greater than the 0.3 per cent fall initially reported.
From the Census Bureau release:
Sales of new single-family houses in August 2012 were at a seasonally adjusted annual rate of 373,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.
This is 0.3 per cent (±9.3%)* below the revised July rate of 374,000, but is 27.7 per cent (±18.8%) above the August 2011 estimate of 292,000.
The median sales price of new houses sold in August 2012 was $256,900; the average sales price was $295,300. The seasonally adjusted estimate of new houses for sale at the end of August was 141,000. This represents a supply of 4.5 months at the current sales rate.
ORIGINAL: Minutes away from September New Home Sales data in the United States at 10 AM ET.
A survey of economists polled by Bloomberg revealed consensus estimates for 385K new units at an annualized rate, up from 373K last month – a 3.2 per cent rise.
Last month, new home sales unexpectedly fell 0.3 per cent.