September new home sales fall 3.5%, after strong summer season

CHARLOTTE, N.C. — Sales of new homes fell by 3.5% in September to a seasonally-adjusted annual rate of 959,000 million units.

The Commerce Department said today that despite the modest decrease, sales of new homes are up 32.1% from a year earlier, as the housing market remains strong despite the pandemic. New home sales for August were revised downward to 994,000.

The strong pace of home sales continued through the summer, driving home prices in many places to record highs.

The median price of a new home sold was $326,800, according to the Commerce Department.