Growth of Median New Home Prices Moderates

Political Calculations reports:

Having started December 2014 seeing something really weird for new home prices in October 2014, we anticipated that the record prices that were initially recorded for the month would be revised considerably downward.

And so they were! The median new home sale price for October 2014 was revised downward by nearly 5%, from $305,000 to $290,100, while the average new home sale price was revised downward by 6.5%, from $401,100 to $375,200.

These figures will continue to be revised over the next two months as the U.S. Census Bureau accumulates more sales data for the month.

Meanwhile, we find that the overall trend for median new home sale prices has continued to increase in 2014, doing so at an average pace of $9.77 for every $1 that median household income increases.

Check out the charts on this one.