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Sales of newly built, single-family homes fell 1.9% in October from a downwardly revised September reading to a seasonally adjusted annual rate of 563,000 units, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
“Though slightly down from last month, new home sales have been on an upward trend since last year,” said Ed Brady, chairman of the National Association of Home Builders (NAHB) and a home builder and developer from Bloomington, Ill.
The inventory of new home sales for sale was 246,000 in October, which is a 5.2-month supply at the current sales pace. The median sales price of new houses sold was ... Read the article at the NAHB website
