Ticker: Lottery profits continue record pace; New home sales jump 14% in September

Massachusetts Lottery sales and estimated profit were each up about $34 million in September as the Lottery kept pace with last year’s records during the first quarter of the new fiscal year.

The Lottery reported $455.4 million in sales last month as nearly all product types posted increases over September 2020. Monthly sales were up $34.1 million or 8.1%, Executive Director Michael Sweeney told the Lottery Commission.

Three months into the fiscal year, sales are up $97.7 million or 6.6% over the same period last year.

September’s sales led to an estimated profit of $95 million last month compared to $61.5 million in September 2020, which Sweeney attributed to a $16.4 million increase in Keno sales with more bars and restaurants open, and to a combined $19.6 million increase in Mega Millions and Powerball sales fueled by larger jackpots.

New home sales jump 14% in September

Sales of new homes jumped 14% in September to the fastest pace in six months as strong demand helped offset rising prices.

The Commerce Department reported Tuesday that sales of new single-family homes rose to a seasonally adjusted annual rate of 800,000 units last month which was well above what economists had been expecting.

The September sales pace was the strongest since sales reached an annual rate of 873,000 in March.

The median price of a new home, the point where half the homes sold for more and half for less, rose to a record $408,800 in September, up 9.5% from a year ago.