The U.S. Census Bureau and Department of Housing and Urban Development reported today that new single-family home sales October were down 8.1 percent, to a seasonally-adjusted rate of 283,000, from the previous month. This rate was 28.5 percent lower than October 2009, which boasted 396,000 sales.
The median new home sales price last month was $194,900, while the average price was $248,200. Approximately 202,000 new homes were available for sale at the end of October, representing an 8.6-month supply.
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