New Home Sales During October 2024
The October, 2024 New Home Sales report was released by the Commerce Department this morning:
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Previous Month (revised): 738,000
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CHART: Cost of A Newly Built Home
OCTOBER 2024 Update
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Compiled jointly by the U.S. Commerce Department and the U.S. Department of Housing and Urban Development, the yellow-highlighted figure above is the seasonally adjusted and annualized number of newly-built homes with committed buyers for the indicated month.
The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.
The New Home Sales report is watched by economists and investors because it offers insight into the state of the U.S. housing market, and also provides data that can be used to predict sales of large household furniture and appliances like refrigerators, air conditioners, microwave ovens, etc.
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Previous Month (revised): 738,000
- Actual New Home Sales: 610,000
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- Change from 1 Month Previous: -128,000 units (-17.34%)
- Change from 1 Year Previous: -63,000 units (-9.36%)
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Median Price for a New Home
During October, 2024: $437,300
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Average Price for a New Home
During October, 2024: $545,800
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Inventory: 481,000 (+39,000 units / 8.82% Year-on-Year)
- 9.5 months supply at current sales rate; seasonally‐adjusted estimate.
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OCTOBER 2024 Update
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================================
Compiled jointly by the U.S. Commerce Department and the U.S. Department of Housing and Urban Development, the yellow-highlighted figure above is the seasonally adjusted and annualized number of newly-built homes with committed buyers for the indicated month.
The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.
The New Home Sales report is watched by economists and investors because it offers insight into the state of the U.S. housing market, and also provides data that can be used to predict sales of large household furniture and appliances like refrigerators, air conditioners, microwave ovens, etc.
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Labels: Cost_of_A_New Home, hard_data, homes, housing, New_Home_Cost, New_Home_Price, new_home_sales, New_Homes, real_estate
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posted by Steve Brown | 11/26/2024 02:38:00 PM
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