New Home Sales in November

While the re-sale market appears to have taken a hit in November, the seasonally adjusted pace of new single-family home sales in the U.S. ticked up 4.3 percent last month to 490,000, which is 9.1 percent higher versus the same time last year. That being said, the adjusted pace remains 5.5 percent lower than the average pace in the first quarter of the year.

The annual pace of new single-family home sales as measured in November has average 659,000 over the past fifty-two years and peaked at 1,214,000 in 2005, 147 percent higher than last month.

In terms of inventory, the number of new single-family homes for sale across the county is currently 232,000, up 2.2 percent from the month before, 10.5 percent higher versus the same time last year and the highest November inventory since 2009.

And in the West, the pace of new home sales is now running 4.7 percent higher versus the same time last year having jumped 20.5 percent in November and reversed an October slide.

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