The Census Bureau and HUD were out Thursday with the new home sales report for November, which was delayed by the partial government shutdown, and it pointed mostly up.
Sales of new single‐family houses in November 2018 were at a seasonally adjusted annual rate of 657,000, 16.9% (with a error margin of ±19.9%)* above the revised October rate of 562,000, 7.7% (±20.7%)* below the November 2017 estimate of 712,000. The consensus estimate among economists was 563,000.
The median sales price of new houses sold in November 2018 was $302,400, down from $325,100 in October and from $343.400 a year earlier. The average sales price was $362,400, down from $395,500 in October and $388,500 in November, 2017.
The seasonally‐adjusted estimate of new houses for sale at the end of November was 330,000, a supply of 6.0 months at the current sales rate.
