New Residential Sales Jump in November

The seasonally adjusted estimate of new houses for sale at the end of November was 158,000. This represents a supply of six months at the current sales rate.

Sales of new single-family houses in November 2011 were at a seasonally adjusted annual rate of 315,000, according to estimates by Department of Housing and Urban Development.

This is 1.6 percent (plus or minus 12.2 percent)* above the revised October rate of 310,000 and is 9.8 percent (plus or minus 19.5 percent)* above the November 2010 estimate of 287,000.

The median sales price of new houses sold in November 2011 was $214,100; the average sales price was $242,900.

- Courtesy of US Census Bureau