MW: November new U.S. home sales rise 4.4% to 377,000
By Jeffry Bartash
WASHINGTON (MarketWatch) - Sales of new U.S. homes jumped 4.4% in November to an annual rate of 377,000, the highest level since April 2010, the Commerce Department said Thursday. In October, sales were revised down to 361,000 from an initial reading of 368,000. Economists polled by MarketWatch had forecast new home sales to rise to 380,000 last month on a seasonally adjusted basis. The median price of new homes climbed 3.7% to $246,200 in November from $237,500 in the prior month. The supply of new homes available for purchase fell to 4.7 months in November at the current sales rate from 4.9 months in October. New home sales are 15.3% higher compared to one year ago and the median sales price is 14.9% higher.
