U.S. new home sales rise

WASHINGTON — Sales of new single-family houses in the U.S. for October 2015 were at a SAAR of 495,000, according to the U.S. Census Bureau and the Department of Housing and Urban Development. This is 10.7% above the revised September rate of 447,000 and 4.9% above the October 2014 estimate of 472,000. The median sales price of new houses sold in October 2015 was $281,500; the average sales price was $366,000. The seasonally adjusted estimate of new houses for sale at the end of October was 226,000, which represents a supply of 5.5 months at the current sales rate.