After rising 5.7 percent in September, new home sales increased again in October. According to data released by the U.S. Census Bureau and the Department of Housing and Urban Development, sales of new single-family homes rose 1.3 percent above September’s rate and are 8.9 percent above last October’s estimate. The median sales price of new houses sold during the month was $212,300; the average sales price was $242,300. The seasonally adjusted estimate of new houses for sale at the end of the month was 162,000, which represents a supply of 6.3 months at the current sales pace. More here.

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Jim Crowder

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STE 100

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