New Home Sales Surge 6.6% in September

Washington, DC, Oct. 27, 2010 -- Sales of new homes rose 6.6% in September, according to the Census Bureau and the Department of Housing and Urban Development.

It was the second consecutive month of gains but a figure that's still well below the pace when a tax credit existed.

Sales of new single-family homes rose to a seasonally-adjusted annualized rate of 307,000, which is stronger than the 300,000 that economists expected.

The stock of unsold houses fell 1% from August and dropped 19% from September 2009. The median sales price rose 1.5% from August and 3.3% from September 2009 to $223,800.