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

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.
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The 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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