New home sales cool off after hot summer

The median price of a new home sold was $326,800

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

EXISTING-HOME SALES SOAR 9.4% IN SEPTEMBER, MARKING FOURTH CONSECUTIVE MONTH OF GROWTH

Ticker Security Last Change Change %
LEN LENNAR CORP. 105.85 +0.70 +0.67%
TOL TOLL BROTHERS, INC. 59.59 +0.32 +0.54%
DHI D.R. HORTON, INC. 96.49 +1.06 +1.11%

The Commerce Department said Monday 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.

HAMPTON'S REAL ESTATE PULLS IN RECORDS

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.

CLICK HERE TO READ MORE STORIES ON FOX BUSINESS