New-home sales show continued strength

Brisk sales and tight inventory providing price support

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Sales of new single-family homes rose 4.4 percent from October to November and were up 15.3 percent from a year ago to a seasonally adjusted annual rate of 377,000, the U.S. Census Bureau reported today.

New-home inventory tied its lowest point of the year with an estimated 149,000 new homes for sale in November, representing a 4.7-month supply.