New Residential Sales Dip 2.1 Percent in November

Monthly trend is off pace but exceeds 2012 by 16.6 percent.

Sales of new single-family houses in November 2013 were at a seasonally adjusted annual rate of 464,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.

This is 2.1 percent (±21.3%)* below the revised October rate of 474,000, but is 16.6 percent (±29.4%)* above the November 2012 estimate of 398,000.

The median sales price of new houses sold in November 2013 was $270,900; the average sales price was $340,300.

The seasonally adjusted estimate of new houses for sale at the end of November was 167,000. This represents a supply of 4.3 months at the current sales rate.