US New Home Sales at 4-Month High Of 592K
Sales of new single-family houses in the United States jumped 5.2 percent to a seasonally adjusted annual rate of 592,000 in November of 2016, beating market expectations of a 2.1 percent increase. It is the highest figure in four months.
Sales in the Midwest jumped 43.8 percent to 92 thousand and those in the West rose 7.7 percent to 154 thousand. In contrast, sales in the South fell 3.1 percent to 313 thousand and those in the Northeast were flat at 33 thousand.
12/23/2016 3:15:11 PM
The median sales price of new houses sold was $305,400 up from $302,700 in the previous month but down from $317,000 a year earlier. The average sales price was also up to $359,900 from $354,700 in October but was lower than and $376,800 a year earlier.
The stock of new houses for sale increased 1.6 percent to 250 thousand. This represents a supply of 5.1 months at the current sales rate.
Year-on-year, new home sales jumped 16.5 percent.