New-home sales up 17.2 percent from a year ago

Supply of new homes steady at 4.8 months in October

Sales of new single-family homes dipped 0.3 percent from September to October, but were up 17.2 percent from a year ago, the U.S. Census Bureau reported today.

The median sales price of new homes sold in October was $237,700, 5.7 percent above last October’s level, but a 4.2 percent dip from September.