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Monday, November 27, 2023

New Home Sales decrease to 679,000 Annual Rate in October; Median New Home Price is Down 18% from the Peak

by Calculated Risk on 11/27/2023 10:44:00 AM

Today, in the Calculated Risk Real Estate Newsletter: New Home Sales decrease to 679,000 Annual Rate in October

Brief excerpt:

The Census Bureau reports New Home Sales in October were at a seasonally adjusted annual rate (SAAR) of 679 thousand. The previous three months were revised down.
Active InventoryThe next graph shows new home sales for 2022 and 2023 by month (Seasonally Adjusted Annual Rate). Sales in October 2023 were up 17.7% from October 2022. Year-to-date sales are up 4.6% compared to the same period in 2022.

As expected, new home sales were up solidly year-over-year in October, and there will be more sales in 2023 than in 2022.
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