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SEPTEMBER 1997 NEW HOUSING
SALES AT ANNUAL RATE OF 800,000
Sales of new one- family houses in September 1997 were at a seasonally adjusted annual rate of 800,000, according to estimates released today by the U.S. Commerce Department's Bureau of the Census and the U.S. Department of Housing and Urban Development. This is virtually unchanged (+/—9 percent) from the revised August rate of 802,000, but 4 (+/—11) percent above the September 1996 rate of 768,000.
The median sales price of new houses sold in September was $142,000; the mean sales price was $176,900. At the end of September the seasonally adjusted estimate of new houses for sale was 286,000. This represents a supply of 4.4 months at the current sales rate.
Through September 1997 there were 630,000 houses sold compared with 596,000 houses sold during the same period last year. This is an increase of 6 (+/—3) percent.
New One-Family Houses Sold
(Number Of Houses In Thousands)
Avg Rise (%) Category Sep 97-P Aug 97-R Sep 96 1st 9 mos.-X United States, (SAAR) 800 802 768 630 Northeast (SAAR) 65 75 93 64 Midwest (SAAR) 143 140 129 110 South (SAAR) 363 377 341 284 West (SAAR) 230 211 205 172
P–Preliminary
R–Revised
X–Not seasonallly adjusted.
October 30, 1997U.S. Department of Commerce
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