New home sales in the USA failed to meet expectations in October

The US Department of Commerce announced new home sales statistics for October.

Accordingly, new home sales in the country increased by 0.4 percent in October compared to the previous month. In this period, 745 thousand new houses were sold in the USA, adjusted for seasonal effects.

Despite the increase in question, the new house sales, which could not meet the market expectations, were expected to be 800 thousand.

New house sales decreased by 23.1 percent in October compared to the same month of the previous year.

Meanwhile, the new house sales data for September was revised from 800 thousand to 742 thousand.

The median selling price of new homes for sale in the US in October increased by 17.5 percent compared to the previous year, reaching $407,700.

Analysts pointed out that the new home sales data for September were revised downwards sharply and stated that high housing prices continued to be an obstacle for buyers.