11/25/2022 – MetroIntelligence Economic Update by P. DUFFY

MetroIntelligence Economic Update by P. DUFFY   New home sales unexpectedly rise 7.5 percent in October Sales of new single‐family houses in October 2022 were at a seasonally adjusted annual rate of 632,000. This is 7.5 percent above the revised September rate of 588,000, but is 5.8 percent below the October 2021 estimate of 671,000. Sales rose the most in the Northeast (45.7 percent) and the South (16.0 percent), but fell sharply in the Midwest (-34.2 percent) and slipped in the West (-0.8 percent). Both the average and median sales…

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