New Home Sales October 2020

On November 25, 2020, the U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau reported nationwide new single family home sales declined 3% to an annual rate of 999,000 homes in October of 2020 from 959,000 homes in September of 2020, but jumped 41.5% from in October of 2019 an annual rate of 708,000 homes.
The median new home sold value was $330,600 in October of 2020, higher from $322,400 in October of 2019. There were estimated 278,000 new houses for sale, and 3.3 months supplies of available inventory at the end of October of 2020.
NAHB Chief Economist Robert Dietz, stated “Demand remains strong as home buyers seek out lower density markets as part of the suburban shift.”
For complete more detailed information about HUD and U.S. Census Bureau report of new home sales October of 2020, please click HERE