【Zillow】October New Home Sales: Sales Unexpectedly Increased in October

• There were 632,000 new home sales nationwide in October (SAAR), up 7.5% from the revised September rate of 588,000. However, new home sales are down 5.8% from October 2021, according to the U.S. Census Bureau.
• The median sales price of new houses sold in October was $493,000 – up 15.4% from October 2021.
• The seasonally-adjusted estimate of new houses for sale at the end of October was 470,000, a supply of 8.9 months at the current sales rate.

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