US: Sales of new single-family houses in Oct 2017 increased 6.2%

"Sales of new single-family houses in October 2017 were at a seasonally adjusted annual rate of 685,000" the U.S. Census Bureau and the Department of Housing and Urban Development announced on Monday.

Key highlights

This is 6.2 percent above the revised September rate of 645,000 and is 18.7 percent above the October 2016 estimate of 577,000.

Sales Price the median sales price of new houses sold in October 2017 was $312,800.

The average sales price was $400,200.

The seasonally-adjusted estimate of new houses for sale at the end of October was 282,000.

This represents a supply of 4.9 months at the current sales rate.