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The U.S. Census Bureau and the Department of Housing and Urban Development’s New Residential Sales report for September shows sales of new single-family homes rose 5.7 percent above August’s estimate to a seasonally adjusted annual rate of 313,000. The increase was the largest since March and exceeded economists expectations. The median sales price was $204,400; the average sales price was $243,900. The estimate of new houses for sale at the end of the month was 163,000. At the current sales pace, that represents a 6.2 month supply. More here and here.
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