New Home Sales Fall -11.0% in November 2020 but are 20.8% Above November 2019

The U.S. Census Bureau and the Department of Housing and Urban Development are jointly reporting that the sales of new single-family houses in November 2020 were at a seasonally adjusted annual rate of 841,000. This is -11.0% below the revised October rate of 945,000 but is 20.8% above the November 2019 estimate of 696,000. The seasonally adjusted estimate of new houses for sale at the end of November was 286,000. This represents a supply of 4.1 months at the current sales rate.