Specifically, single-family homes were built at a seasonally adjusted annual rate of 963,000, up 3.2% from 933,000 in August and up 8.6% from 887,000 a year earlier, according to government figures.
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The supply of new homes for sale ticked lower from February, according to government figures.
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The median sales price of a new home was down on a monthly basis but up on an annual one.
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September is the fourth month in a row to see declining sales activity.
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Rising mortgage rates have led to a substantial increase in the number of markets considered overvalued.
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Sales of new homes in the U.S. jumped 28.8% between July and August, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.
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March has the fastest growth in real home prices in more than 30 years.
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The rate of new single-family home sales fell 16.6% from March’s revised number, while the median sales price jumped to $450,600 from March’s revised median house price of $435,000.
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“Buyer demand is still intense, but it’s as simple as ‘one cannot buy what is not for sale.” — National Association of REALTORS® chief economist Lawrence Yun
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Affordability and supply-chain issues continued to weigh on the sales of new single-family residences.
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