New Home Sales Rise 4.4% for November
Sales of new single-family homes increased 4.4% to a seasonally adjusted annual rate of 377,000 for November, according to a Department of Housing and Urban Development report [link opens in PDF] released today. After September's flatline and October's revised 3.5% dip, these newest numbers provide some hope for a housing recovery.
Compared to November 2011's 327,000 estimate, sales have increased by 15.3% in the past year. On a regional basis, the Northeast continues to lead, with a 68.8% gain since November 2011. The South is the only region in the red, dipping 5.8%.
Today's report lists the median price of new houses sold in November at $246,200, 3.7% above October's revised rate and 14.9% above last November's price tag.
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