Residential Real Estate News
New Home Sales in U.S. Uptick 1.3% in October
According to the U.S. Census Bureau and the Department of Housing and Urban Development (HUD), sales of new single-family houses in October 2011 were at a seasonally adjusted annual rate of 307,000.This is 1.3 percent (±19.7%) above the revised September rate of 303,000 and is 8.9 percent (±17.2%) above the October 2010 estimate of 282,000.
The median sales price of new houses sold in October 2011 was $212,300; the average sales price was $242,300. The seasonally adjusted estimate of new houses for sale at the end of October was 162,000.
This represents a supply of 6.3 months at the current sales rate.
