New, single-family home sales in October fell short of estimates, teetering the seesaw back from September’s 3 percent increase, the U.S. Census Bureau and the Department of Housing and Urban Development (HUD) recently reported. Sales in October were at a seasonally adjusted annual rate of 563,000, 1.9 percent below the revised September rate of 574,000 but 17.8 percent above last October’s 478,000.
The median sales price in October was $304,500, while the average sales price was $354,000; 246,000 new homes were for sale at the end of October, a supply of 5.2 months.
Source: U.S. Census Bureau
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