Thursday, December 27, 2012

November New Home Sales Up 15.3% versus November 2011

He's done it again, a new phony, manipulated boom.

Sales of new single-family houses in November 2012 were at a seasonally adjusted annual rate of 377,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.

This is 4.4 percent above the revised October rate of 361,000 and is 15.3 percent above the November 2011 estimate of 327,000.

The median sales price of new houses sold in November 2012 was $246,200; the average sales price was $299,700.  The seasonally adjusted estimate of new houses for sale at the end of November was 149,000.  This represents a supply of 4.7 months at the current sales rate.

Next up, price inflation.

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