Home sale price falls in September
National rates are coming in lower including Oklahoma City. The median sales price of all new homes sold in September was $299,400, according to the US Census Bureau
The number of new-home sales drop 0.7 percent to a seasonally adjusted annual rate of 701,000. Nothing too suspicious but a hint of possible cooling.
According to the latest residential sales report from the U.S. Census Bureau and the Department of Housing and Urban Development (HUD), the number is just slightly below the August rate of 706,000 homes but 15.5 percent higher than the rate last year.
The median sales price of new houses sold in September 2019 was $299,400. The average sales price was $362,700.
For Sale Inventory and Months’ Supply
The seasonally‐adjusted estimate of new houses for sale at the end of September was 321,000. This represents a supply of 5.5 months at the current sales rate.
In total, the median sales prices of all new homes sold in September was $299,400 while the number of new homes for sale clocked in at 321,000. The numbers represent a slight dip from past months but still an upward trend overall.
Median sale is down from the record high of 171,000 June of this year to 165,000 across the 620 square miles of Oklahoma City. Septembers median is still 5.5% higher than this time last year. September in Oklahoma also experience a 10% in total homes sold compared to this time last year. Remember the first podcast of the month covers the full summary of the prior months performance report. Stay tuned for that release.