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November New-Home Sales, Prices Fall

Sales of new single-family homes in November were at a seasonally adjusted rate of 407,000, 2.9 percent below the October rate of 419,000 and 35.3 percent below the November 2007 estimate of 629,000, according to the latest figures released by the U.S. Commerce Department.

The median sale price of new homes sold in November was $220,000, 11.5 percent below the median sale price of $249,100 a year ago. There were 374,000 new homes available for sale at the end of November, representing an 11.5-month supply at the current sales rate.

One thought on “November New-Home Sales, Prices Fall

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