US new home sales up in November
12/27/2012 5:31:20 PM
Sales of new homes in the United States increased in November after declining the previous month, according to government statistics released Thursday.
Sales of newly built single-family houses came in at a seasonally adjusted pace of 377,000 last month, 4.4 percent higher than the downwardly revised October rate of 361,000, the Commerce Department said.
The average sales price of new houses was $299,700, while the seasonally adjusted estimate of new houses for sale at the end of last month was 149,000 -- a supply of just under five months at the current sales rate.