New-home sales fall 11% in November

Months' supply drops 30.7% year-over-year

New residential sales in November decreased month-to-month and possibly year-over-year, according to estimates released Wednesday by the U.S. Census Bureau and the Department of Housing and Urban Development.

The report comes on the heels of a rise in resale home sales for the third straight month reported Tuesday by the National Association of Realtors (see article).