New Residential Sales Rise in November

 

The seasonally adjusted estimate of new houses for sale at the end of November was 197,000. This represents a supply of 8.2 months at the current sales rate.
Courtesy of Archstone Real Estate

Sales of new single-family houses in November 2010 were at a seasonally adjusted annual rate of 290,000. This is 5.5 percent above the revised October rate of 275,000, but is 21.2 percent below the November 2009 estimate of 368,000. With so many houses in foreclosure, it could take 6 to 12 months for the housing market to bottom out.

– Courtesy of Economics & Statistics Administration