New Home Sales Leapt 17.5% in November, 26.6% YOY

Washington, DC, December 22, 2017-Sales of new single-family houses in November 2017 were at a seasonally adjusted annual rate of 733,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development.

This is 17.5% above the revised October rate of 624,000 and is 26.6% above the November 2016 estimate of 579,000.

The median sales price of new houses sold in November 2017 was $318,700. The average sales price was $377,100.

The seasonally-adjusted estimate of new houses for sale at the end of November was 283,000. This represents a supply of 4.6 months at the current sales rate.