Overview
- October new single-family sales ran at a 737,000 seasonally adjusted annual rate, down 0.1% from September but 18.7% above a year earlier.
- The median new-home price fell to $392,300, an 8.0% year-over-year decline as builders cut prices and used incentives and mortgage buydowns that pressured margins.
- New-home inventory held at 488,000 units, equal to 7.9 months of supply, underscoring still-elevated stock despite steady contract activity.
- Regional performance diverged sharply, with the South at a 513,000 pace up 42.1% year over year while the West and Northeast weakened.
- Mortgage rates have moved toward the low‑6% range after President Trump directed Fannie Mae and Freddie Mac to buy $200 billion of bonds, an effect analysts describe as modest and uncertain.