New home sales increases in October

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% above the revised September rate of 588,000 but is 5.8% below the October 2021 estimate of 671,000.

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

At the end of October, the seasonally adjusted estimated supply at the current sales rate was at 8.9 months.

Read the Census/HUD release.