New-home sales got a decent boost in November, according to new numbers out from the U.S. Census Bureau.
Last month, sales of new single‐family houses were at a seasonally adjusted annual rate of 640,000—up 5.8 percent from the revised October rate. November numbers were, however, 15.3 percent below the November 2021 estimate of 756,000.
The median sales price of new houses sold in November 2022 was $471,200, while the average sales price was $543,600.
The seasonally‐adjusted estimate of new houses for sale at the end of November was 461,000. This represents a supply of 8.6 months at the current sales rate.