New home sales slip in November

Sales slide 1.6 percent from October.

Sales of new single-family houses in November 2014 were at a seasonally adjusted annual rate of 438,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 1.6 percent (±12.3%)* below the revised October rate of 445,000 and is 1.6 percent (±17.8%)* below the November 2013 estimate of 445,000.

The median sales price of new houses sold in November 2014 was $280,900; the average sales price was $321,800. The seasonally adjusted estimate of new houses for sale at the end of November was 213,000. This represents a supply of 5.8 months at the current sales rate.