New Residential Home Sales Up Month-Over-Month but Fall Year-Over-Year in October 2021

The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced on Wednesday (11-24-21) that new residential single-family home sales for October 2021 were at a SAAR of 745,000, according to estimates. This is 0.4% above the revised September rate of 742,000 but is -23.1% below the October 2020 estimate of 969,000.

The seasonally adjusted estimates of new houses for sales at the end of October was 389,000. This represents a 6.3 months’ supply based on the current rate of sales.

The median sales price of new houses sold in October 2021 was $407,700. The average sales price was $477,800.

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