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US new home sales declined slightly in October to 999,000 units

US new home sales declined slightly in October to 999,000 units

Sales of new homes remained stable in Oct to a seasonally adjusted rate of 999,000 units. While the Commerce Department said Oct new home sales dropped by only 0.3% from Sept. This is a signal of new homes sales remaining steady despite the home-buying season now entering the fall. Sales of new homes are up 41.5% from the same period a year earlier.

Milan
Milan
JustFact
JustFact 1 months

I am a Realtor in a very hot market, we are seeing a slow but steady rise in price since COVID hit the US, but some of that could be contributed to the fact that we have a shortage of homes as well. I anticipate prices won’t fully bounce back until spring of 2022, even with a vaccine on the horizon.

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