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.

The Census Bureau says that the estimated 147,000 new homes for sale at the end of October represented a 4.8-month supply at the current seasonally adjusted rate of 368,000 sales per year. That’s up slightly from 4.7 months in September but down from 6.1 months a year ago.

Supply is "now in the normal range (below 6 months)," wrote Bill McBride on his blog Calculated Risk.

McBride noted that new home inventory has been broken down into three categories since 1973: not started, under construction and completed. He notes that, in October, "the inventory of completed homes for sale was just above the record low," but that, when combined with "under construction," a category that’s increasing at a greater clip, the inventory status is a little better relative to its all-time low.

Source: Calculated Risk blog.

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Thank you for subscribing to Morning Headlines.
Back to top
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription