New-Home Sales Up after August Slip

New-home sales activity is up, coming in at a rate of 593,000 in September, roughly 3 percent higher than the August rate of 575,000, the U.S. Census Bureau and Department of Housing and Urban Development (HUD) report. September’s rate, which represents 4.8-months supply, is approximately 30 percent higher than the September 2015 estimate of 457,000.
The uptick in new-home sales activity comes amid a strong showing of existing-home sales—as reported by the National Association of REA