Home Sales Jump

Another housing-data release, another positive data point. The Census Bureau reported sales of new single-family homes in September at an annual rate of 389,000. This is a 5.7 percent jump from the August 2012 figure of 368,000 and a 27.1 percent increase from September 2011, which came in at a 306,000 annual rate. The median sale price for new homes in September was $242,000, and there is now a 4.5-month supply of new homes at the current sales rate.