Home sales fall in October
On Wednesday, the聽聽released its monthly聽聽for October showing a slight monthly decline with sales falling 0.3% since September but rising 17.2% above the level seen in October 2011 though remaining at an historically low level of 368K SAAR units.聽
It's important to recognize that the聽inventory of new homes聽appears to now be bouncing around a very low 147K units, near the lowest level seen in in at least 47 years while the聽median number of months for sale聽has improved to 5.9.聽
The monthly supply increased to 4.8 months while the median selling price increased 5.74% and the average selling price increased 7.89% from the year ago level.聽
