Last Update: 23-Dec-14 10:24 ET
New Home Sales
- New home sales declined 1.6% to 438,000 in November from a downwardly revised 445,000 (from 458,000) in October. The Briefing.com Consensus expected new home sales to increase to 460,000.
- Over the past 12 months, new home sales have averaged 433,000 with very little volatility. The November sales data was right in-line with recent trends.
- Other than the West region (+14.8%), sales fell in all areas across the U.S.
- Inventories increased 1.4% to 213,000. That represents 5.8 months’ supply at the current sales rate.
- During periods of normal demand, supply is generally maintained at 6.0 months. With the steady trend in sales, current home production is in-line with demand. A near-term acceleration in construction levels seems unlikely.
- Sales trends have been flat for that last 12 months.
|Median Price Y/Y