Updated: 23-Dec-19 10:16 ET
|Updated: 23-Dec-19 10:16 ET
- New home sales in November increased 1.3% m/m to a seasonally adjusted annual rate of 719,000 units (Briefing.com consensus 735,000) from a downwardly revised 710,000 (from 733,000) in October.
- On a yr/yr basis, new home sales were up 16.9%.
- The median sales price increased 7.2% yr/yr to $330,800. The average sales price increased 5.8% yr/yr to $388,200.
- Sales by region were as follows: Northeast (+52.4%); Midwest (0.0%); South (-4.1%); and West (+7.5%).
- The percentage of homes priced at $399,999 or less accounted for 65% of new homes sold, down from 69% in October and 71% a year ago.
- The inventory of new homes for sale decreased to a 5.4-months supply at the November sales pace versus a 5.5-months supply in October.
- The key takeaway from the report is that it appears as if new home sales, like existing home sales, were crimped in November by a lack of available supply at more affordable price points.
|Median Price Y/Y