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New-Home Sales Decline by 34.1% on a Year-Over-Year Basis in October

By Dale Oviatt posted 11-22-2022 12:00 AM

  
High interest rates and economic uncertainty combined with the typical seasonal slowdown are causing home sales to stall out, according to Zonda.


New-home sales slowed in October, reflecting growing uncertainty in the overall economy and housing market. According to the Zonda New Home Market Update, there were approximately 467,082 new-home sales on a seasonally adjusted annual basis in October, representing a 34.1% decline on a year-over-year basis.


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