New Home Sales Jump, Prices Rise Too

December 27, 2012 by Paul Ausick

New home
Source: Thinkstock
The U.S. Census Bureau this morning released data on new single-family home sales for November. Sales rose 4.4% month-over-month, to a seasonally adjusted annual rate of 377,000, the highest point since April 2010. Economists had been expecting a seasonally adjusted annual rate of 375,000. The November number is 4.4% higher than the revised total of 361,000 for October and 15.3% above the rate for November 2011. At the peak in 2005, new home sales posted a seasonally adjusted annual rate of nearly 1.4 million.

The Census Bureau also reported that the median sales price for new homes sold in November was $246,200, about 3.5% above the October median, and the average sales price was $299,700, up about 7.5%. In October, the median sales price for a new house was $237,700 and the average sales price was $278,900.

At the end of November, the number of new homes for sale totaled 149,000, a supply of 4.7 months, up slightly from an inventory totaling 147,000 at the end of October.

Paul Ausick

Take This Retirement Quiz To Get Matched With A Financial Advisor (Sponsored)

Take the quiz below to get matched with a financial advisor today.

Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.

Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the
advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future

Take the retirement quiz right here.

Posted in Housing | Comments Off on New Home Sales Jump, Prices Rise Too