MNI DATA ANALYSIS: US Sep Home Sales +18.9% To 667,000 SAAR>

--New Home Sales Highest Level Since October 2007 (727k)

--Sep Months' Supply -16.7% To 5 Months vs 6 Months In August  

--New Homes Supply Unchanged At 279,000  

By Sara Haire and Holly Stokes

     WASHINGTON (MNI) - The pace of new single-family home sales 

increased sharply by 18.9%, the largest percent change since January of 

1992, to 667,000, the highest level seen since October 2007 at a 

seasonally adjusted annual rate in September, following modest upward 

revisions to the sales pace in the previous two months, data released by 

the Commerce Department Wednesday showed. 

     The sales pace came in well above expectations of 555,000, based on 

an MNI survey of economists. The difference between the expected and 

the actual was 112,000.  

     The supply of new homes for sale was unchanged at 279,000 in 

September. Based on the movements in sales and supply in September, the 

months supply fell 16.7% to 5 months from 6 months in August, 

falling below the 5.1 months supply a year ago. 

     With the supply of homes being unchanged, the median sales price of 

new homes saw a rise of 5.2% to $319,700 in September and was up 1.6% 

from September 2016. 

     Sales rose by 33.3% in the Northeast to 48,000, the highest level 

seen in the Northeast since January of 2008. Sales rose by 25.8% in the 

large South region, the highest level since July of 2007. Sales were 

also up 2.9% in the West region and 10.6% in the Midwest. 

     New home sales in August were revised up to a 561,000 rate from the 

560,000 rate previously reported, while July sales were also revised up 

to a 582,000 rate from the 580,000 pace previously reported.  

     Year-to-date sales, before seasonal adjustment, were up 8.6% 

from the same nine month period a year ago. 

     ** MNI Washington Bureau (202) 371-2121 ** 

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