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November New Home Gain Overshadowed by October Revision

Wednesday, December 23, 2015

Newly constructed single-family homes continued to sell well in November however October's earlier robust report was scaled down dramatically.  The Census Bureau and the Department of Housing and Urban Development estimates that new homes sold at a seasonally adjusted annual rate of 490,000 in November an increase of 4.3 percent compared to October and 9.1 percent above the rate in November 2014.  October's sales numbers were downgraded from the 498,500 units originally reported to 470,000 turning a 10.7 increase over September into a more modest 6.3 percent gain.

 

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