Sales of new U.S. homes are up 16.9%

February 4, 2019 11:50 am

Sales of new U.S. homes are up 16.9% in November 2018, new figures show.

Sales reached a seasonally adjusted annual rate of 657,000, according to estimates by the U.S. Census Bureau and the Department of Housing and Urban Development.

This is 16.9% above the revised October rate of 562,000, but 7.7% below the November 2017 estimate of 712,000. Sales rose 21% in the South.

The median sales price of new houses sold in November 2018 was $302,400.  This is down 11.9% year-on-year. The average sales price was $362,400.

The seasonally‐adjusted estimate of new houses for sale at the end of November was 330,000.  This represents a supply of 6.0 months at the current sales rate.

The report on the market was delayed by the 35-day government shutdown.

Qualitas’ new houses start from just $219,900.

Source: https://www.census.gov/construction/nrs/pdf/newressales.pdf