Posted December 28, 2015

Single-family home sales climb 4.3 percent in November.

Rate trends 9.1 percent above November 2014.

Sales of new single-family houses in November 2015 were at a seasonally adjusted annual rate of 490,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development.

This is 4.3 percent (±11.9%)* above the revised October rate of 470,000 and is 9.1 percent (±20.9%)* above the November 2014 estimate of 449,000. However, the November rate of growth was less than expected, leading some to suspect a slowdown in the making. New home sales represent about 9.3 percent of the total housing market.

The median sales price of new houses sold in November 2015 was $305,000; the average sales price was $374,900. The seasonally adjusted estimate of new houses for sale at the end of November was 232,000. This represents a supply of 5.7 months at the current sales rate.