The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly released estimates indicating that sales of new single-family houses reached a seasonally adjusted annual rate of 679,000. This figure reflects a 5.6 percent decrease (with a margin of error of ±12.3 percent) from the revised September rate of 719,000. However, it represents a substantial 17.7 percent increase (with a margin of error of ±17.9 percent) compared to the October 2022 estimate of 577,000.
The median sales price for new houses sold in October 2023 was $409,300 versus $496,800 in October 2022.
Looking at inventory, the seasonally adjusted estimate for new houses available for sale at the end of October was 439,000, translating to a supply of 7.8 months at the current sales rate.
