US New Residential Single-Family Home Sales Climb 5.9% in November

On December 23, the US Census Bureau and Department of Housing and Urban Development jointly announced that new residential single-family home sales for November were at a seasonally adjusted annual rate (SAAR) of 664,000, according to estimates. This is 5.9% above the revised October rate of 627,000 and 8.7% above the November 2023 rate of 611,000.

The median sales price of new houses sold in November was $402,600. The average sales price was $484,800.

The seasonally adjusted estimate of new houses for sale at the end of the month was 490,000. This represents a supply of 8.9 months at the current sales rate.