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US new home sales rise in November below estimate

US new home sales rise in November below estimate
Sales estimated to come in at 770,000

By Ovunc Kutlu

ANKARA (AA) - New home sales in the US increased in November below the market estimate, according to a report by the Census Bureau and the Department of Housing and Urban Development on Thursday.

Sales of new single‐family homes came in at a seasonally adjusted annual rate of 744,000, which was a 12.4% increase from the revised October rate of 662,000.

New home sales, which shows the number of new single-family homes sold, was estimated to come in at 770,000.

The November figure was 14% below the same month last year when sales stood at 865,000, according to the report.

The median sale price of new homes was $416,900, while the average sales price was $481,700.

source: News Feed
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