MNI: 5 Things We Learned From New Residential Sales Data>

By Holly Stokes and Sara Haire

     WASHINGTON (MNI) - The following are the key points from the 

October new residential sales data released Monday by the 

Commerce Department: 

     -October new home sales +6.2% to 685k SAAR, its highest level since 

October 2007 (727k), and well above the 629k expected.  

     -Sales rose in the Northeast by 30.2% to 56k, the highest level 

since October 2007 (62k), and in the South by 1.3% to 383k, the highest 

level since October 2007 (386k). 

     - New homes for sale saw a 1.4% rise to 282k, the highest level 

since May 2009. 

     -Due to a 1.4% rise in new homes for sale and larger rising sales, 

the months supply on market decreased 5.8% to 4.9 months from 5.2 

months in September. 

     -The median new home sales price -3.7% to $312,800, but +3.3% y/y. 

     ** MNI Washington Bureau: 202-371-2121 ** 

[TOPICS: MAUDS$,M$U$$$,MAUDR$]