Sales of new single-family houses rise above last October
By Jeff Sorg, OnlineEd Blog
(December 1, 2020)
(Washington, DC ) – The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced on November 25, 2020, the following new residential sales statistics for October 2020:
New Home Sales
Sales of new single-family houses in October 2020 were at a seasonally adjusted annual rate of 999,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 0.3 percent (±13.6 percent)* below the revised September rate of 1,002,000, but is 41.5
percent (±22.6 percent) above the October 2019 estimate of 706,000.
The median sales price of new houses sold in October 2020 was $330,600. The average sales price was $386,200. For Sale Inventory and Months’ Supply The seasonally-adjusted estimate of new houses for sale at the end of October was 278,000. This represents a supply of 3.3 months at the current sales rate. The November report is scheduled for release on December 23, 2020.
[Source: News release number: CB20-177]
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Jeff Sorg is a co-founder of OnlineEd®, an online real estate, mortgage broker, and vocational school founded in 1997, where he also serves as Chief Executive Officer, and School Director. Sorg holds vocational and post-secondary school instructor licenses in several states and has authored numerous real estate continuing education and pre-licensing courses and has been awarded the International Distance Education Certification Center’s CDEi Designation for distance education. Memberships include ARELLO (Association of Real Estate License Law Officials), the National Association of REALTORS®, Oregon Association of REALTORS®, and Portland Metro Association of REALTORS®. Awards and service include REALTOR® Emeritus in the National Association, Life Member award in Portland Metro Association and Chairperson of the Oregon Real Estate Forms Committee.
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