New Home Sales At Annual Rate Of 464k In November

New home sales in November were at a seasonally adjusted annual rate of 464k, the U.S. Census Bureau reports. That is down 2.1% from October’s revised rate of 474k, but is otherwise the fastest rate of new home sales since July 2008.

New home sales, seasonally adjusted, increased in 2 of the 4 U.S. regions in November:

  • Northeast: SAAR of 38k from 33k last month.
  • Midwest: SAAR of 47k from 64k last month.
  • South: SAAR of 261k from 287k last month.
  • West: SAAR of 118k from 90k last month.

New Home Sales1 600x375 New Home Sales At Annual Rate Of 464k In November

The rate of new home sales in November is up 16.6% from a year ago.

New Home Sales Change1 600x375 New Home Sales At Annual Rate Of 464k In November

The median sales price of new houses sold in November was $270.9k, up from $259.2k in October.

The average sales price was $340.3k, up from $326.8k in October.

New Home Sales Price1 600x375 New Home Sales At Annual Rate Of 464k In November

The seasonally adjusted estimate of new houses for sale at the end of October was 167k. This represents a supply of 4.3 months at the current sales rate.

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