New Home Sales Down 8.9% in October

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The U.S. Government is reporting that sales of new single-family houses in October, 2018 were at a seasonally adjusted annual rate of 544k.  This figure is 8.9% below September’s revised rate and is 12% lower than October, 2017.  The median sales price of new houses sold in October 2018 was $309,700 and the average sales price was $395k.  There were an estimated 336k new houses for sale at the end of October representing a 7.4 months supply at the current sales rate.

Click here to read the full report at census.gov.

 

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Director of Education & Outreach, National Real Estate Investors Association

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