Sales of new single-family houses in the U.S. fell to a seasonally adjusted annual rate of 610,000 in October 2024, marking a 17.3% decrease from the revised September figure of 738,000. This is also 9.4% lower than the 673,000 units sold in October 2023, according to data from the U.S. Census Bureau and the Department of Housing and Urban Development.
The median sales price for new houses sold in October 2024 stood at $437,300, while the average sales price was recorded at $545,800. These figures indicate the ongoing high cost of new homes despite declining sales.
At the end of October 2024, the inventory of new homes for sale was seasonally adjusted to 481,000 units. This equates to a 9.5-month supply at the current sales rate, reflecting an increase in available stock as sales slow.
