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 2017:
New Home Sales October 2017
Sales of new single-family houses in October 2017 were at a seasonally adjusted annual rate of 685,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.
- This new home sales rate is 6.2% (±18.0 percent)* above the revised September rate of 645,000 reported last month.
- The new pace also represents 18.7% (±23.5 percent)* above the October 2016 estimate of 577,000 new homes per year.
Median New Home Sales Price
The median sales price of new houses sold in October 2017 was $312,800. The average sales price was $400,200.
U.S. New Homes For Sale Inventory and Months’ Supply
The seasonally-adjusted estimate of new houses for sale at the end of October was 282,000. This represents a supply of 4.9 months at the current sales rate.
The Commerce Department said there was 90% confidence that the change in sales last month ranged from an 11.8% drop to a 24.2% increase, underscoring the volatility of the data.
Check back soon as the the November 2017 United States new home sales report is scheduled for release on December 22, 2017.