Sales of new homes plunged unexpectedly last month to the lowest level since April, said the National Association of Home Builders.
Sales hit a seasonally adjusted annual rate of 355,000 last month, off from a downwardly revised 400,000 pace in October. The median sales price of US$217,400 was down nearly 2% from $221,600 a year earlier, but up about 4% from October's level of $209,400.
In the Midwest, however, sales rose 21%. Sales fell by 21% in the South, 9% in the West and 3% in the Northeast.
to Daily News