On November 23, 2016, the U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau reported nationwide new single family home sales lower 1.9% to an annual rate of 563,000 homes in October of 2016 from 574,000 homes in September of 2016, but gained 17.8% from October of 2015 an annual rate of 478,000 homes. The median sold value of new home was $304,500, while the average sales price was $354,900 in October of 2016. There were estimated 246,000 new houses for sale a 5.2 months supplies of available inventory at the end of October of 2016.
Regionally, new homes sales in the Northeast fell 9.1% in October of 2016 from September of 2016, nd down 6.3% from October of 2015. In the Midwest new homes sales declined 13.7% in October of 2016 from September 2016, but up 8.6% from October of 2015. In the South new homes sales decreased 3.0% in October of 2016 from September 2016, but higher 17.9% from October of 2015. In the West new homes sales increased 8.8% in October 2016 from September 2016, but jumped 28.7% from October of 2015.
For complete more detailed information about (HUD) and U.S. Census Bureau report of new home sales October of 2016, please CLICK HERE