New Home Sales, which measures signed contracts on new homes, were down 0.3% (essentially flat) in October…but that doesn’t tell the whole story. New Home Sale are right around 1 million units and September was revised higher by 4.5%. Sales are up 41.5% year over year, even with the big drop in inventory, which is down 13.4% year over year! The median home price increased to $330,600, up 2.5% year over year – Once again proving this does not measure appreciation, which we know is near 7%, but rather the middle-priced home that sold.