Not long after releasing the results of their new residential sales data for October 2013, the US Department of Housing and Urban Development (HUD) and the US Census Bureau released their data findings for November in a press release this week. With 464,000 new single-family homes sold in November 2013, the press release indicated that the sales were 16.6% greater than November 2012. Because October’s new single-family home sales were revised from 444,000 to 474,000, November’s rate of sales were 2.1% less than October.
The average sales price of new single-family homes in November was $340,300 with the median sales price of $270,900. Based on the current prices, and an estimated 167,000 new houses for sale, HUD and the Census Bureau estimate supply at 4.3 months “at the current sales rate.” http://1.usa.gov/10tP2Rv