?EUR??,,????'??A variety of market measures indicate that home sales now are stabilizing following a substantial correction from the unsustainable highs reached last year,?EUR??,,????'?? said NAHB Chief Economist David Seiders. ?EUR??,,????'??Aggressive sales efforts by builders, combined with historically low mortgage interest rates and solid growth in employment and household income, have buoyed housing affordability in recent months.?EUR??,,????'??

The median sales price of new houses sold in October 2006 was $248,500; the average sales price was $309,700. The seasonally adjusted estimate of new houses for sale at the end of October was 558,000. This represents a supply of seven months at the current sales rate.

Completed homes for sale were nearly 30 percent of the inventory, while units still under construction represented 54 percent of the inventory and units for-sale that were permitted but not yet started represented more than 16 percent of the inventory level.