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New Home Sales at 733,000 Annual Rate in October, New Cycle High in September

November 26, 2019 ‐ 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 2019:

New Home Sales
Sales of new single family houses in October 2019 were at a seasonally adjusted annual rate of 733,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 0.7 percent (±20.4 percent)* below the revised September rate of 738,000, but is 31.6 percent (±23.7 percent) above the October 2018 estimate of 557,000.

Sales Price
The median sales price of new houses sold in October 2019 was $316,700. The average sales price was $383,300.

For Sale Inventory and Months’ Supply
The seasonally‐adjusted estimate of new houses for sale at the end of October was 322,000. This represents a supply of 5.3 months at the current sales rate.

Sales were above 700 thousand SAAR in four of the last five months - the best five month stretch since 2007.

Annual sales in 2019 should be the best year for new home sales since 2007.

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