New Single-Family Home Sales Rose 7.5% in October

Washington, DC, November 23, 2022-Sales of new single‐family houses in October 2022 were at a seasonally adjusted annual rate of 632,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development, 7.5% above the revised September rate of 588,000 but 5.8% below the October 2021 estimate of 671,000.

The median sales price of new houses sold in October 2022 was $493,000. The average sales price was $544,000.

The seasonally‐adjusted estimate of new houses for sale at the end of October was 470,000. This represents a supply of 8.9 months at the current sales rate.