New single-family home sales in September 2015 fell dramatically to a seasonally adjusted annual rate of 468 thousand, down 11 point 5 percent from the revised August rate of 529 thousand, according to estimates released jointly Monday by the U.S. Census Bureau and HUD.
The data also showed that the September rate is 2 percent above the September 2014 estimate of 459 thousand. The Bureau and HUD also found that the median sales price of new houses sold in September 2015 was 296 thousand 900 dollars, while the average sales price was 364 thousand 100 dollars.
With interest rates lower than they have been since 2012, now is likely the best time to purchase a home, according to Trulia’s most recent Rent versus Buy Report. The report, which assumes a 30-year fixed rate mortgage with a 20 percent down payment for households moving every seven years shows that purchasing a home is 23 percent cheaper than renting nationwide for millennials and homes are more affordable than renting in 98 of the 100 largest markets.