November panned out to be a month of considerable progress for the housing market, and the latest U.S. Census Bureau new residential sales report is another point on the scoreboard.

New single-family home sales rose to a seasonally adjusted rate of 733,000 — a 17.5 percent month-over-month and a 26.6 percent year-over-year gain in home sales. The estimate of new homes for sale at the end of November was 283,000, which represents a 4.6-month supply at the current sales rate.

Other data from the Census Bureau and HUD:

  • The median sales price was $318,700.
  • The West led the way in new residential home sales, with a 31.1 (+/- 26.5)* percent month-over-month increase. The South experienced the second highest rate of month-over-month growth at 14.9 (+/- 14.5)* percent.
  • The Northeast and Midwest shored up the end of the pack with 9.5 percent (+/- 26.6)*and 6.9 percent
    (+/- 16.3)* growth month-over-month, respectively.

The Census Bureau and HUD use sample surveys to collect data for their home sales, which means this data is subject to sampling variability as well as the typical statistical variance. * The survey is based on a sample of houses pulled from building permits. “Sales” are defined as deposits taken or sales agreements signed, not necessarily closings.

Email Marian McPherson.

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription