New Home Sales Up 41.5% YOY in October

Sales of new single-family houses in October 2020 were at a seasonally adjusted annual rate of 999,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 0.3% below the revised September rate of 1,002,000, but is 41.5% above the October 2019 estimate of 706,000.

The median sales price of new houses sold in October 2020 was $330,600. The average sales price was $386,200.

The seasonally-adjusted estimate of new houses for sale at the end of October was 278,000. This represents a supply of 3.3 months at the current sales rate.

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