Posted November 29, 2022

New Home Sales Advance 7.5 Percent in October

Average sales price runs $544,000.

The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential sales statistics for October 2022:

New Home Sales

Sales of new single‐family houses in October 2022 were at a seasonally adjusted annual rate of 632,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.

This is 7.5 percent (±20.8 percent)* above the revised September rate of 588,000, but is 5.8 percent (±19.6 percent)* below the October 2021 estimate of 671,000.

Sales Price

The median sales price of new houses sold in October 2022 was $493,000. The average sales price was $544,000.

For Sale Inventory and Months’ Supply

The seasonally‐adjusted estimate of new houses for sale at the end of October was 470,000. This represents a supply of 8.9 months at the current sales rate.