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.