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US new home sales rise 6.2% in October

Sales of new single-family houses in the U.S. came in at a seasonally adjusted annual rate of 685,000 in October, up 6.2% from the revised rate of 645,000 in September, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported.

Year over year, new residential sales increased 18.7% from 577,000 in October 2016.

In October, the median sales price of new houses sold was $312,800 and the average sales price was $400,200.

New houses available for sale at the end of October were at a seasonally adjusted estimate of 282,000, representing a supply of 4.9 months at the current sales rate.