New US Residential Single-Family Home Sales Down Month-Over-Month but Up Year-Over-Year in November

The U.S. Census Bureau and the Dept. of Housing and Urban Development jointly announced on Friday (12-22-23) that new residential single-family home sales for November 2023 were at a SAAR of 590,000, according to estimates. This is 12.2% below the revised October rate of 672,000 but is 1.4% above the November 2022 estimate of 582,000.

The median sales price of new houses sold in November 2023 was $434,700. The average sales price was $488,900.

The seasonally adjusted estimate of new houses for sale at the end of November was 451,000. This represents a supply of 9.2 months based on the current rate of sales.