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New Home Sales Slip In November

WASHINGTON (UPI) — Sales of new one-family homes slipped 2.1 percent in November compared to October, the U.S. Commerce Department said Tuesday.

Sales of new homes reached a seasonally adjusted annual rate of 464,000, down from the revised October rate of 474,000.

From a year earlier, sales rose 16.6 percent. In November 2012, the seasonally adjusted annual rate of sales posted was 398,000.

The median sales price of a new home was $270,900 in November.

The department said it would take 4.3 months for the market inventory of 167,000 new homes on the market to sell at the current rate of sales.

UPI - United Press International, Inc.

Since 1907, United Press International (UPI) has been a leading provider of critical information to media outlets, businesses, governments and researchers worldwide.

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