New Home Sales Rose 17.8% YOY in October

Washington, DC, November 23, 2016—Sales of new single-family houses in October 2016 were at a seasonally adjusted annual rate of 563,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development.

This is 1.9% below the revised September rate of 574,000 but is 17.8% above the October 2015 estimate of 478,000.

The median sales price of new houses sold in October 2016 was $304,500; the average sales price was $354,900. The seasonally adjusted estimate of new houses for sale at the end of October was 246,000. This represents a supply of 5.2 months at the current sales rate.