The U.S. Census Bureau and the Department of Housing and Urban Development have released new residential sales data for September 2024. The sale of new single-family homes reached a seasonally adjusted annual rate of 738,000. This figure is a 4.1 percent increase from the revised August rate of 709,000 and a 6.3 percent rise compared to September 2023's estimate of 694,000.

The median sales price for these homes was reported at $426,300, while the average price stood at $501,000. At the end of September, there were approximately 470,000 new houses available for sale, translating to a supply lasting about 7.6 months based on current sales rates.

These statistics are derived from sample surveys and carry certain degrees of sampling variability and nonsampling errors such as bias and variance due to response issues or undercoverage. As stated in the report: "Whenever a statement such as '2.5 percent (±3.2%) above' appears in the text, this indicates the range (-0.7 to +5.7 percent) in which the actual percent change is likely to have occurred."

The report also highlights that preliminary figures may be subject to revision due to survey methodologies used primarily based on building permits samples.

Further information can be accessed through various platforms including an application programming interface provided by the Census Bureau for developers interested in creating custom applications using demographic data.

For those interested in receiving regular updates on economic indicators, the FRED Mobile App offers data integration with the Census Bureau’s economic indicators.

The next update on new residential sales is scheduled for release on November 26, 2024.