Having actually dropped a downwardly revised 3.0 percent in August, the seasonally adjusted pace of new single-family home sales in the U.S. dropped another 5.5 percent in September to an annual pace of 553,000 sales which is 15.1 percent below the long-term average for this time of the year and 13.2 percent lower versus the same time last year.

At the same time, the number of new single-family homes for sale across the county ticked up another 2.8 percent to 327,000, which is 16.8 percent higher versus the same time last year, a new nine-year high, and represents 7.1 months of available inventory, which is the highest since 2011, while the median sale price ($320,000) is now 3.5 percent lower versus the same time last year.

And having dropped a downwardly revised 6.0 percent in August, the annual pace of new single-family home sales in the West dropped another 12.0 percent in September to 139,000 transactions and is now running 15.8 percent lower on a year-over-year basis.

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Comments from “Plugged-In” Readers

  1. Posted by SFRealist

    Nationwide trends are not good. The Bay Area will do better than elsewhere, but that’s small consolation to everywhere else.

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