New US Residential Single-Family Home Sales Down Month-Over-Month but Up Year-Over-Year in October

Posted on November 27, 2023

The US Census Bureau and Department of Housing and Urban Development jointly announced on Monday (11-27-23) that new residential single-family home sales for October were at a SAAR of 679,000, according to estimates. This is 5.6% below the revised September rate of 719,000 but 17.7% above the October 2022 estimate of 577,000.

The median sales price of new houses sold in October was $409,000. The average sales price was $487,000.

The seasonally adjusted estimate of new houses for sale at the end of October was 439,000. This represents a supply of 7.8 months based on the current rate of sales.

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