MNI: 5 Things We Learned From New Residential Sales Data>

By Holly Stokes and Sara Haire

     WASHINGTON (MNI) - The following are the key points from the 

September new residential sales data released Wednesday by the 

Commerce Department: 

     -September new home sales +18.9% to 667k SAAR, its highest level 

since October 2007 (727k), and well above the 555k expected.  

     -Sales rose in the Northeast by 33.3% to 48k, the highest level 

since January 2008 (50k), and in the South by 25.8% to 405k, the highest 

level since July 2007 (415k).

     - Sales were up in all regions, leading to the largest total sales 

percent change m/m since January 1992.

     -Due to flat supply and rising sales, the months supply on market 

decreased to 5.0 months from 6.0 months in August. 

     -The median new home sales price +5.2% to $319,700, and +1.6% y/y. 

     ** MNI Washington Bureau: 202-371-2121 ** 

[TOPICS: MAUDS$,M$U$$$,MAUDR$]