New Home Sales Spike 14% In September

The video discusses the recent performance of the housing market, highlighting a significant increase in both median and average home prices over the past year. Despite supply chain shortages, demand remains high, indicating a robust market.

What was notable about the real estate market's performance last month?

• It was the lowest in a year.

• It was unchanged from the previous month.

• It was the best in six months.

• It was the worst in six months.

By how much did the median price of a new home increase in September compared to the previous year?

• 5%

• 7.5%

• 9.5%

• 12%

What was the median price of a new home in September?

• $400,000

• $408,000

• $415,000

• $420,000

What was the average sales price of a new home, and how much did it increase from the previous year?

• $408,000, 11.5% increase

• $408,000, 9.5% increase

• $451,700, 9.5% increase

• $451,700, 11.5% increase

What challenge are builders facing despite high demand?

• Increased competition

• Decreased demand

• Supply chain shortages

• Labor shortages