Market Updates
U.S. New Home Sales Advanced In November, Median and Average Prices Dropped to New 3-Year Lows
Brian Turner
23 Dec, 2024
Washington, D.C.
New single-family home sales in November were at a seasonally adjusted annual rate of 664,000, an increase of 5.9% from October, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.
New home sales rose from the revised October rate of 627,000 and jumped 8.7% from a year-ago rate of 611,000.
The median sales price of new homes sold in November was $402,600, and the average sales price was $484,800.
New home sales in the Midwest advanced 10% from a year ago to 88,000; in the South, they rose 13.6% to 419,000; fell 1.4% to 136,000; and dropped 11.5% to 23,000.
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