New home sales rise 1.3 percent in November
The average price of a new home was $388,200.
The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential sales statistics for November 2019:
New Home Sales
Sales of new single‐family houses in November 2019 were at a seasonally adjusted annual rate of 719,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.
This is 1.3 percent (±11.0 percent)* above the revised October rate of 710,000 and is 16.9 percent (±19.4 percent)* above the November 2018 estimate of 615,000.
Sales Price
The median sales price of new houses sold in November 2019 was $330,800. The average sales price was $388,200.
For Sale Inventory and Months’ Supply
The seasonally‐adjusted estimate of new houses for sale at the end of November was 323,000. This represents a supply of 5.4 months at the current sales rate.
CONTRACTOR SUPPLY MAGAZINE
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