New-Home Sales Shoot Up

In October, new-home sales shot up, according to the Commerce Department’s latest monthly report.

New-Home Sales: 733,000

• -0.7 percent month-over-month
• +31.6 percent year-over-year

For-Sale Inventory: 322,000
Months’ Supply: 5.3
Average Price: $383,300
Median Price: $316,700

Source: U.S. Census Bureau and U.S. Department of Housing and Urban Development