The US Census Bureau published the New Home Sales for the 3rd Quarter. From a national perspective new home sales rose 1.3% above the revised September rate of 303,000.
Sales of new single-family houses in October 2011 were at a seasonally adjusted annual rate of 307,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 1.3 percent (±19.7%)* above the revised September rate of 303,000 and is 8.9 percent (±17.2%)* above the
October 2010 estimate of 282,000.
The median sales price of new houses sold in October 2011 was $212,300; the average sales price was $242,300. The seasonally adjusted estimate of new houses for sale at the end of October was 162,000. This represents a supply of 6.3 months at the current sales rate.
For more detailed analysis and charts like above of the National Stats, check out CalculatedRisk.
As we all know, real estate markets are local. The report does not break it down to the Twin Cities market, but it does break it down to the Midwest Region. The Midwest region shows New Home Sales holding steady from 2nd Quarter to 3rd Quarter 2011.
- NAHB Housing Market Index is up for November (craigkamman.com)
- Existing Home Sales Held Back By Increasing Contract Cancellations (eyeonhousing.wordpress.com)