New Residential Home Sales up Month-Over-Month but Down Year-Over-Year in November 2021

The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced on Thursday (12-23-21) that new residential single-family home sales for November 2021 were at a SAAR of 744,000, according to estimates. This is 12.4% above the revised October rate of 662,000 but is -14.0% below the November 2020 estimate of 865,000.

The seasonally adjusted estimate of new houses for sale at the end of November was 402,000. This represents a supply of 6.5 months at the current sales rate.

The median sales price of new houses sold in November 2021 was $416,900. The average sales price was $481,700.

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