October Home Sales Exceed Expectations

october home salesAfter plummeting 12.9 percent in September, real estate sales of new, single-family homes recovered in October with 495,000 sales, according to numbers recently released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development. The median October home sales price for all new single family homes sold was $281,500, while the average sales price was $366,000. Economists like Lindsey Piegza, chief economist for Stifel Fixed Income, agree that despite slow income growth and economic uncertainty, new home sales should remain positive in the coming months. She was recently quoted in a HousingWire article saying, “New home sales remain volatile month-to-month, but with a positive upward trajectory, albeit slightly less positive than that seen in existing home sales activity.”

To learn more about October home sales, read the entire article.

Image Source: Guy Kilroy