Tuesday, November 29, 2022 | The Latest Buzz for the Appraisal Industry

New Home Sales Unexpectedly Increase in October 

New home sales in October were at a seasonally adjusted annual rate of 632,000, an increase of 7.5% compared with September but down 5.8% compared with October 2021, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.

The median sales price of a new home sold in October was $493,000. The average sales price was $544,000.

As of the end of the month there were roughly 470,000 new