New homes sales saw a big rebound in November, increasing 12.4 percent month-over-month, according to the U.S. Census Bureau and Department of Housing and Urban Development.
Sales of new single‐family houses in November 2021 were at a seasonally adjusted annual rate of 744,000. While up from October 2021, the rate was 14 percent below the November 2020 estimate of 865,000.
The median sales price of new houses sold in November 2021 was $416,900—up from the October median price of $407,000. The average sales price was $481,700—also up from $477,800 in October.
The seasonally‐adjusted estimate of new houses for sale at the end of November was 402,000, representing a 6.5 month supply at the current sales rate.