HUD AND CENSUS BUREAU ANNOUNCE NEW RESIDENTIAL CONSTRUCTION ACTIVITY IN NOVEMBER

WASHINGTON – Sales of new single-family houses in November 2015 were at a seasonally adjusted annual rate of 490,000, according to estimates released jointly today by the U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau. This is 4.3 percent (±11.9%)* above the revised October rate of 470,000 and is 9.1 percent (±20.9%)* above the November 2014 estimate of 449,000.

The median sales price of new houses sold in November 2015 was $305,000; the average sales price was $374,900. The seasonally adjusted estimate of new houses for sale at the end of November was 232,000. This represents a supply of 5.7 months at the current sales rate.

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