New Home Sales Jump

Sales of new single-family houses in the United States jumped 16.9 percent from the previous month to a seasonally adjusted annual rate of 657 thousand in November of 2018.

It is the strongest reading since March 2018, supported by higher sales in the South, the Midwest and the Northeast. New Home Sales in the United States averaged 650.36 Thousand from 1963 until 2018, reaching an all time high of 1389 thousand in July of 2005 and a record low of 270 thousand in February of 2011.

The median sales price of new homes sold was $302,400 in November, below $ 343,400 in the same month of the previous year. The average sales price also fell to $362,400 from $388,500 a year ago.

The stock of new houses for sale edged up 0.6 percent to 330 thousand in November. This represents a supply of 6 months at the current sales rate.

Source: U.S. Census Bureau