New Construction Sales Up 7.5 Percent

Following an early Fall sales dip, new construction sales rebounded in October across the country. 

According to the U.S. Census Bureau, sales of new single‐family houses last month were at a seasonally adjusted annual rate of 632,000—up 7.5 percent from the revised September rate of 588,000, but 5.8 percent below October 2021.

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—an 8.9 month supply.