New Home Sales Beat Forecasts at 676,000 a Year in September as Builders Cut Prices
The Census Bureau's figure topped the 651,000 economists expected. The average new-home price fell 6.7 percent from a year ago to $472,800, and Breitbart says discounting is propping up a market facing mortgage rates above 7 percent.
New single-family home sales came in stronger than expected in September, but Breitbart reports builders got there by lowering prices.
The numbers. The Census Bureau said Tuesday that sales ran at a seasonally adjusted annual rate of 676,000. Economists had expected 651,000. That is down 0.6 percent from August, which was revised down to 680,000 from the 684,000 first reported. Sales were 5.3 percent below a year earlier, and are down 2.9 percent so far this year from the same period of 2025.
Prices. The average sales price fell to $472,800, down 6.7 percent from a year ago. The median price was $400,400, up 3.9 percent from August but down 3.9 percent from September 2025.
Supply. Homes for sale fell 1.0 percent to 476,000, which is 8.4 months of supply at the current pace, compared with 8.5 months in August.
By region. Sales jumped 28.0 percent in the Northeast and 21.4 percent in the West. They fell 6.6 percent in the South, the largest market, and 7.3 percent in the Midwest.
Breitbart's read. With mortgage rates still above 7 percent, the report says the new-home market is holding up mostly because builders are willing to discount.
Note for readers: monthly sales figures are estimates that get revised, as August's was. The mortgage rate and the "mostly because of discounts" judgment come from Breitbart, not the Census Bureau.