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U.S.Economy: 
October New Home Sales Rise 6.2%
Author: 123jump.com Staff
123jump.com
Last Update: 10:42 AM ET November 25 2009


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Seasonally adjusted new home sales increased 6.2% to 430,000 and increased 5.1% from a year ago month. The median sale price of new homes sold in the month was $212,200 and average price was $261,100 with 6.7 months of inventory.

 
The following is the unedited transcript of the news release from the U.S. Department of Commerce.

NEW RESIDENTIAL SALES IN AUGUST 2009

Sales of new one-family houses in October 2009 were at a seasonally adjusted annual rate of 430,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 6.2 percent (±17.6%)* above the revised September rate of 405,000 and is 5.1 percent (±14.9%)* above the October 2008 estimate of 409,000.

The median sales price of new houses sold in October 2009 was $212,200; the average sales price was $261,100. The seasonally adjusted estimate of new houses for sale at the end of October was 239,000. This represents a supply of 6.7 months at the current sales rate.

Available at:

http://www.census.gov/const/newressales.pdf
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