New Home Sales Fell 8.9% in October

Washington, DC, November 28, 2018-Sales of new single‐family houses in October 2018 were at a seasonally adjusted annual rate of 544,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development, 8.9% below the revised September rate of 597,000 and is 12.0% below the October 2017 estimate of 618,000.

The median sales price of new houses sold in October 2018 was $309,700. The average sales price was $395,000.

The seasonally‐adjusted estimate of new houses for sale at the end of October was 336,000. This represents a supply of 7.4 months at the current sales rate.