---
title: New Home Sales Sank in September
description: After reaching a seven year high in May, new home sales plummeted across the U.S. in September 2015.
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published: '2015-10-26T21:05:24.000Z'
modified: '2024-05-16T10:35:37.000Z'
section: Housing
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![new-home-sales-down](https://img.money.com/2015/10/new-home-sales-down.jpeg)

After reaching a seven-year high in May of this year, sales of newly constructed single-family homes took a nosedive in September.

New home sales fell 11.5% in September, [the *Wall Street Journal* reports](http://www.wsj.com/articles/u-s-new-home-sales-fall-11-5-in-september-1445868162), from a seasonally adjusted rate of 529,000 monthly new home purchases in August to just 468,000. The drop defied economists' projections for the month, which, according to the [WSJ](http://www.wsj.com/articles/u-s-new-home-sales-fall-11-5-in-september-1445868162), placed September's figure closer to 555,000 purchases.

Most affected was the Northeast, where, after new home sales surged 87.5% in May alone, they fell 61.8% from August to September. New home sales in the region are down 56.7% from September 2014.

The current slump isn't a good sign for the economy, but it could be a good sign if you're looking to buy, and especially if you're looking to buy your first home. October is a month for real estate bargains as is, and the slow market is sure to help.

Plus, it seems new home sales in the U.S. on average show slight overall growth—2%—from this time last year, suggesting the real estate market may be on the mend after all. Existing home sales, meanwhile, are up 4.7%.

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