New home sales in the US edged down 0.3 percent month-over-month to a seasonally adjusted annual rate of 999 thousand in October of 2020, compared to forecasts of 970 thousand. Sales fell from an upwardly revised 1,002 thousand in September which was the highest reading since November of 2006. Still, the level of home sales remained elevated as the housing market has been supported by record low interest rates and increasing demand from people moving away from big cities due to the coronavirus crisis. Sales dropped in the South (-2 percent to 580 thousand) and the West (-1.5 percent to 269 thousand), but rose in the Midwest (11.2 percent to 109 thousand) and the Northeast (5.1 percent to 41 thousand). The median sales price went up to $330,600 from $322,400 a year earlier. source: U.S. Census Bureau
New Home Sales in the United States averaged 653.19 Thousand units from 1963 until 2020, reaching an all time high of 1389 Thousand units in July of 2005 and a record low of 270 Thousand units in February of 2011. This page provides the latest reported value for - United States New Home Sales - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States New Home Sales - data, historical chart, forecasts and calendar of releases - was last updated on December of 2020.
New Home Sales in the United States is expected to be 750.00 Thousand units by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate New Home Sales in the United States to stand at 620.00 in 12 months time. In the long-term, the United States New Home Sales is projected to trend around 560.00 Thousand units in 2021 and 590.00 Thousand units in 2022, according to our econometric models.