Sales of new single‐family houses in October 2022 were at a seasonally adjusted annual rate of 632,000, according to estimates released jointly today by the US Census Bureau and the Department of Housing and Urban Development. This is 7.5 percent (±20.8 percent) above the revised September rate of 588,000, but is 5.8 percent (±19.6 percent) below the October 2021 estimate of 671,000.
The median sales price of new houses sold in October 2022 was $493,000. The average sales price was $544,000.
The seasonally‐adjusted estimate of new houses for sale at the end of October was 470,000. This represents a supply of 8.9 months at the current sales rate.