October new home sales: 737k vs. 718k estimate

Summary

CNBC's Diana Olick reported delayed October and September new home sales data, with October sales beating expectations at 737,000 and rising 18.7% year-over-year. Inventory was a 7.9-month supply and the median price fell 8% year-over-year as builders lowered prices. Mortgage rates were stable between 6.2% and 6.4%, while housing starts and building permits weakened. Olick said the new-home sales beat is good for builders.

• CNBC's Diana Olick reported delayed October and September new home sales data after the government shutdown.
• October new home sales came in at 737,000, above the 718,000 estimate but slightly below September's 738,000.
• Sales were up 18.7% from October 2024, while for-sale inventory stood at a 7.9-month supply.
• The median new-home price fell 8% year-over-year to $392,000, indicating builders are reducing prices.
• Mortgage rates held between 6.2% and 6.4% during September and October.
• Housing starts and building permits weakened year-over-year, though the new-home sales beat was positive for builders.