November 23, 2022 ‐ 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 2022:
New Home Sales
Sales of new single‐family houses in October 2022 were at a seasonally adjusted annual rate of 632,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 7.5 percent above the revised September rate of 588,000, but is 5.8 percent
below the October 2021 estimate of 671,000.
The median sales price of new houses sold in October 2022 was $493,000. The average sales price was $544,000.
For Sale Inventory and Months’ Supply
The seasonally‐adjusted estimate of new houses for sale at the end of October was 470,000. This represents a supply of 8.9 months at the current sales rate.