New home sales fall 0.3% in October

 · In October, the first month of the last quarter of the year, the services sector was the only major part of the economy to expand. Industrial production fell.

Sydney and Melbourne home prices have fallen 1.6% in a month. That’s significantly faster than what was seen earlier this year, and may reflect vendors are lowering their price expectations in order.

The Commerce Department said Wednesday that new-home sales dipped 0.3 percent in October to a seasonally adjusted annual rate of 368,000.

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Overview. This page provides national and regional data on the number of new single-family houses sold and for sale. It also provides national data on median and average prices, the number of houses sold and for sale by stage of construction, and other statistics.

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The stock of new houses for sale went up 0.3 percent to 333 thousand. At May’s sales pace it would take 6.4 months to clear the supply of houses on the market, up from 5.9 months in April. Year-on-year, new home sales fell 3.7 percent.

Sales of new single-family homes in the U.S. dropped 0.3% to 368,000 in October according to the estimates released jointly by the U.S. Consensus Bureau and the Department of Housing and Urban.

New home sales ticked down 0.6% last month to a seasonally-adjusted annual rate of 342,000, the Commerce Department reported. That was from a revised reading of 344,000 in April.

 · Sales of new U.S. single-family homes fell from near an 11-1/2-year high in April as prices rebounded, but demand for housing remains underpinned by declining mortgage rates and.

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The 373K annualized rate this month represents an increase of 27.7 percent (18.8%) over last year’s August new home sales estimate of 292,000, according to the release. More from the release:

Meanwhile, the number of new homes sold and for sale dipped 1.5% from the previous month to about 662,000, according to the report. They rose, however, 11.6% from the same month a year earlier.