With a larger-than-expected gain in sales there has been a rebound in the housing spread to the new home-sector last month.
Seasonally adjusted annual rate for single-family homes
According to the U.S. Census Bureau and the Department of Housing and Urban Development sales of new, single-family homes were at a seasonally adjusted annual rate of 430,000.
It has been noted at 6.2% above the revised September rate of 405,000 and compared to the rates in October of last year it is 5.1% higher.
Number of New Houses
In October it has also been said by the government that the median sales price of new houses sold was $212,200. The number of new houses that has been listed for sale at the end of the month was 239,000, a 6.7 month supply at the current sales rate.
NAR Report
The government report on new-home sales follows a report that was released last week from the National Association of Realtors showing a rise of 10.1% in existing-home sales in October from September levels.
The NAR said that existing-home sales, raised up to 23.5% from a year earlier, having sales activity at the highest pace since February 2007.
Home closings in the Charlotte market
At the same time the number of home closings in the Charlotte market were up 13.6% in October from September. However, there has been a 9.5% drop in the average sales price.
Houses were sold at the average listing price of $218,050, dropped down less than 1% from the previous month. In October 2008 the average listing price was $237,436.
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