New Residential Sales in Improve in November

Washington, Dec. 27, 2012 — Sales of new single-family houses in November 2012 were at a seasonally adjusted annual rate of 377,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 4.4 percent (±16.8%) above the revised October rate of 361,000 and is 15.3 percent (±18.7%) above the November 2011 estimate of 327,000. The median sales price of new houses sold in November 2012 was $246,200; the average sales price was $299,700. The seasonally adjusted estimate of new houses for sale at the end of November was 149,000. This represents a supply of 4.7 months at the current sales rate.