Steel Markets
January 30, 2019
New Home Sales Jump in November
Written by Sandy Williams
Sales of new homes soared in November to a seasonally adjusted annual rate of 657,000, according to data from the U.S. Census Bureau and the Department of Housing and Urban Development. Sales increased 16.9 percent from October, but dropped 7.7 percent from the November 2017 estimate.
The median sales price for new homes was $302,400 and the average sales price $362,400. Inventory stood at 333,000 units at the end of November representing a supply of 6.0 months at the current sales rate. Inventory declined 14.3 percent from October and was 22.4 percent higher than a year ago.
