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US New Home Sales Data: October Shows a Decline with Prices Falling by 17.6%
Nov 28, 2023
US New Home Sales Data: October Shows a Decline with Prices Falling by 17.6% Austin
By   Internet
  • City News
  • US property
  • new home sales
  • falling property prices
Abstract: According to a report released by the US government, new home sales in October fell below expected levels.

After seasonal adjustments, the annual sales rate was 679,000 households, a decrease from the revised 719,000 households in the previous month, and a certain gap from the analyst's predicted 725,000 households.


It is worth noting that these data often undergo significant revisions. The initial report showed that sales in September were 759,000 units, while the actual revised data was 719,000 households. This indicates that the real estate market is highly volatile and the accuracy of the data requires further observation and analysis.

US New Home Sales Data: October Shows a Decline with Prices Falling by 17.6%

Key details show that the median sales price of new homes in October dropped from $422,300 the previous month to $409,300, a 17.6% year-on-year decrease. This indicates that there has been a certain downward trend in new home prices over the past year.


In addition, from September to October, the supply of unsold new homes increased by 1.4%, equivalent to 7.8 months' supply, an increase from the 7.2 months' supply in the previous month. This means that the increase in supply helps to stabilize the market, but it may also put some pressure on housing prices.

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US New Home Sales Data: October Shows a Decline with Prices Falling by 17.6%
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