US New Home Sales Rise 10.7%

Sales of new single-family houses in October 2015 were at a seasonally adjusted annual rate of 495,000, up 10.7 percent from last month but below market expectations. The inventory of properties for sale reached the highest since early 2010 while both median and average prices decreased.

Figures for September were revised downwards to show new home sales shrank 12.9 percent (-11.5 percent previously) to 447 thousand from 468 thousand previously reported.

Sales in the Northeast jumped 135.3 percent, sales in the South rose 8.9 percent and those in the Midwest increased 5.3 percent while sales in the West dropped 0.9 percent. 

The median sales price of new houses sold decreased to $281,500 ($307,800 in September); the average sales price was $366,000 ($369,600 in September). 

The stock of new houses for sale at the end of October was 226,000 (223,000 in September). This represents a supply of 5.5 months at the current sales rate (6 in September).

Year-on-year, new home sales grew 4.9 percent. 

US New Home Sales Rise 10.7%

US Census Bureau | Joana Taborda |
11/25/2015 3:24:33 PM