General World News

New home sales surprise in November

New home sales, to the surprise of many, rose by 5.8% in November to a seasonally adjusted annual rate of 640,000, according to data published by the U.S. Census Bureau and the Department of Housing and Urban Development (HUD) on Friday.

New home sales data last month was much stronger than had been anticipated; the market had expected a contraction of 4.7% in November. The median sales price of new houses sold last month was $471,200 and the average sales price was $543,600, according to the data.

A combined dip in details ⇒

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