US New Home Sales Rise Slightly In October Below Estimate

New home sales in the US increased slightly in October, but came below the market estimate, according to a joint report by the Census Bureau and Department of Housing and Urban Development on Wednesday.

Sales of new single‐family houses in October came at a seasonally adjusted annual rate of 745,000, which was a 0.4% increase from the revised September rate of 742,000.

New home sales, which shows number of new single-family homes sold, was estimated to come at 800,000 in October.

The October figure was 23.1% below the same month of last year when it stood at 969,000, the report said.

The median sales price of new houses sold in October was $407,700, while the average sales price was $477,800, it added. -