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November Home Sales Skyrocket

Phil Hall
Dec 22, 2017
It was a November to remember for new home sales, according to data from the U.S. Census Bureau and the Department of Housing and Urban Development

It was a November to remember for new home sales, according to data from the U.S. Census Bureau and the Department of Housing and Urban Development.
 
Sales of new single-family houses last month were at a seasonally adjusted annual rate of 733,000, a 17.5 percent spike from the revised October rate of 624,000 and a 26.6 percent leap above the November 2016 estimate of 579,000.
 
The median sales price of new houses sold in November was $318,700 while the average sales price was $377,100.  The seasonally-adjusted estimate of new houses for sale at the end of November was 283,000, which represents a 4.6-month supply.

 
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