New-home Sales Up 3.4 Percent

Sales of new houses showed surprising growth in November as sales rose 3.4 percent last month to a seasonally adjusted annual rate of 1.047 million units, according to estimates released today by the U.S. Census Bureau and the Department of Housing and Urban Development.
The median sales price of new homes sold in November was $251,700; the average sales price was $294,900.
The seasonally adjusted estimate of new houses for sale at the end of November was 545,000. This represents a supply of 6.3 months at the current sales rate.

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