New Home Sales Rise In November

Rate is 1.047 million units.

Although 15.3% below their November 2005 rate, sales of new single-family homes increased 3.4% between October and November of this year. The seasonally adjusted annual rate for November was 1.047 million units, the U.S. Commerce Department and the U.S. Department of Housing and Urban Development reported on Dec. 27.

The median sales price of new homes sold last month was $251,700; the average sales price was $294,900. At the end of November, there were 545,000 homes for sale, a 6.3-month supply at the current sales rate.

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