US new home sales steady near two-year high

(Sharecast News) - New home sales across the United States were more or less unchanged in October, according to the Census Bureau, holding close to a two-year high set the previous month. Sales of new single-family houses came in at a seasonally-adjusted annual rate of 737,000 in October, just 0.1% below the September rate of 738,000, which was the highest since May 2023.

That was comfortably ahead of the consensus forecast of 710,000 and 18.7% above levels seen in October 2024.

For-sale inventories were also more or less unchanged compared with September, with the number of new houses for sale steady at 488,000, representing 7.9 months' supply at the current sales rate.

However, the median sales price for new houses sold was $392,300 in October, down 3.3% on the $405,800 price tag in September and 8% below the same month the year before.