Industry News

New single-family home sales fall in November

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The rate of new single-family home sales fell about 15.3 percent in November compared to November 2005 and increased about 3.4 percent compared to October 2006, the U.S. Census Bureau and the Department of Housing and Urban Development announced today. The seasonally adjusted annual rate of new single-family home sales reached about 1.05 million in November, according to the report. Sales reached an annual low of about 1.01 million in October -- compared to the annual high of 1.17 million in January. This seasonally adjusted annual rate is a projection of a monthly sales total over a 12-month period, adjusted to account for seasonal fluctuations in sales activity. The median sales price of new houses sold in November 2006 was $251,700, up 5.8 percent compared to November 2005, while the average sales price was $294,900, up 0.2 percent compared to November 2005. The seasonally adjusted estimate of new houses for sale at the end of November was 545,000, which represents a supply of ...