Posted November 29, 2023

US New Home Sales Slide 5.6% in October

Average sales price runs $487,000.

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 2023:

New Home Sales
Sales of new single?family houses in October 2023 were at a seasonally adjusted annual rate of 679,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.

This is 5.6 percent (±12.3 percent)* below the revised September rate of 719,000, but is 17.7 percent (±17.9 percent)* above the October 2022 estimate of 577,000.

Sales Price
The median sales price of new houses sold in October 2023 was $409,300.

The average sales price was $487,000.

For Sale Inventory and Months’ Supply
The seasonally?adjusted estimate of new houses for sale at the end of October was 439,000. This represents a supply of 7.8 months at the current sales rate.