Mumbai, Oct. 28 -- Sales of new single-family houses in the United States reached 676,000 at a seasonally adjusted rate, the country's Census Bureau and the Department of Housing and Urban Development said in a report published on Tuesday. The figure beat forecasts but represented a month-over-month decrease of 0.6%.
At the same time, the reading declined by 5.3% compared to the same month last year. The median sales price of new homes sold in the reported month stood at $400,000, while the average sales price came in at $472,800. The seasonally adjusted estimate of new houses for sale at the end of September was 476,000, which is 8.4 months' worth of supply at the current rate of sales.
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