US: Over 12% jump in new home sales in November

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New home sales in the US rose sharply in November, according to data released on Thursday.

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In particular, new home sales rose 12.4% last month to a seasonally adjusted 744,000 from 662,000 in the previous month.

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Analysts polled by the Wall Street Journal, however, set the bar slightly higher, predicting that new home sales would reach the seasonally adjusted annual level of 766,000 in November.

Meanwhile, the average selling price of new homes in October rose to $ 416,900, setting a new record.

The supply of new homes for sale, however, decreased by 8.5% from October to November, to 6.5 months.

Although, of course, the housing sector remains strong, it continues to move much lower than the high recorded last year. It is noted that sales are 14% lower compared to the same period last year.

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Source From: Capital

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