US new-home sales for November 0.590M vs 0.685M estimate

<ul><li>Prior month 0.679 million annualized pace revised to 0.672M </li><li>New-home sales -12.2% largest decline since April 2022</li><li>New homes for sale at the end of November 0.451 million units versus October 0.440 million units</li><li>New home sale supply 9.2 months vs 7.9 months in October. That is the highest level since November 2022 (9.4 months)</li><li>Median sales price $434,700 which is down -6% from November 2022 ($462,300) </li><li>Average sales price $488,900 vs $487,000 last month</li></ul><p>Regionally:</p><ul><li>Northeast +3.1%</li><li>Midwest +25.0%</li><li>South -20.9%</li><li>West -5.1%</li></ul>

This article was written by Greg Michalowski at

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