New-Home Sales Declined 17.3% in October

Washington, DC, November 26, 2024-Sales of new single-family houses in October 2024 were at a seasonally adjusted annual rate of 610,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development, 17.3% below the revised September rate of 738,000 and 9.4% below the October 2023 estimate of 673,000.

The median sales price of new houses sold in October 2024 was $437,300. The average sales price was $545,800.

The seasonally adjusted estimate of new houses for sale at the end of October was 481,000. This represents a supply of 9.5 months at the current sales rate.