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New Home Sales Dip 0.3%

Sales of new single-family homes fell slightly to a seasonally adjusted annual rate of 368,000 for the month of October, according to a U.S. Census Bureau report (link opens in PDF) released today. These newest numbers clock in 0.3% below September's revised rate of 369,000, but 17.2% above last October's 314,000.

Regionally, new home sales vary dramatically from October 2011. All regions have seen improved sales, with the West leading the nation with a 34% gain. The Midwest has enjoyed an 18% increase, while the Northeast and South improved 11% and 9%, respectively. 

New home sales continue to trend upward, but are far from prerecession levels.


Today's report lists the median price of new houses sold in October at $237,700, 4.1% below the September number and 5.7% above October 2011's $224,800 median price tag.

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