New Home Sales Slide Slightly In October

0 Shares

WASHINGTON (UPI) — Sales of new single-family homes fell slightly September to October, the U.S. Commerce Department said Wednesday.

Sales dropped to a seasonally adjusted annual rate of 368,000 from a revised September rate of 369,000.

Sales also rose 17.2 percent more than the annual rate of 314,000 from October 2011.

The Commerce Department said the average sale price for a new home sold in October was $278,900, down from $292,400 in September.

The seasonally adjusted estimate of how many new homes were on the market at the end of the month was 147,000, which is 2,000 more than September and represents a 4.8-month supply at the current rate of sales.

UPI - United Press International, Inc.

Since 1907, United Press International (UPI) has been a leading provider of critical information to media outlets, businesses, governments and researchers worldwide.

Join the Discussion

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.