Steel Markets
December 28, 2020
New Home Sales Slip in November as Supply Tightens
Written by Sandy Williams
New home sales in November slipped 11 percent from October to a seasonally adjusted annual rate of 841,000, reported the Census Bureau and Department of Housing and Urban Development. The pace of sales continues to outperform the 2019 rate however, up 20.8 percent from November last year.
The median sales price in November was $335,300 and the average sales price $390,100. Inventory stood at 286,000, a supply of 4.1 months at the current sales rate and 11.2 percent lower than a year ago.
