New Home Sales Fall to 438K

Sales of new single-family houses were recorded at a seasonally adjusted annual rate of 438,000 in November, down 1.6 percent from a revised 445,000 in October. It is the second consecutive fall and the lowest figure in four months.

The median sales price of new houses sold in November 2014 was $280,900; the average sales price was $321,800. The seasonally adjusted estimate of new houses for sale at the end of November was 213,000. This represents a supply of 5.8 months at the current sales rate. 

Sales in the Northeast recorded the highest drop (-12 percent), followed by sales in the South (-6.4 percent) and the Midwest (-6.3 percent). Sales in the West grew 14.8 percent. 

Year-on-year, new home sales shrank 1.6 percent.

New Home Sales Fall to 438K

U.S. Census Bureau | Joana Taborda |
12/23/2014 3:34:21 PM