Sales of newly constructed homes surged unexpectedly in
September, reaching the highest rate since March. However, a downward revision
in the August numbers left sales still significantly below those a year
earlier. The U.S. Census Bureau and Department of Housing and Urban Development
said newly constructed single-family homes sold at a seasonally adjusted annual
rate of 800,000 units during the month. This was a 14.0 percent gain from the 702,000-unit
pace in August. That estimate was originally reported at 740,000 units. Sales
in September 2020 were at a seasonally adjusted rate of 971,000 units, 17.6
percent above this September’s sales pace.


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