New Home Sales Up in November Dec 23, 2010

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U.S. sales of new single-family houses in November 2010 were up 5.5% from October's revised figure to a seasonally adjusted annual rate of 290,000, according to the U.S. Census Bureau.

The report released by the Census Bureau and the Department of Housing and Urban Development revised the October rate to 275,000. November is still down 21.2% from the November 2009 estimate of 368,000.

The median sales price of new houses sold in November 2010 was $213,000; the average sales price was $268,700. The seasonally adjusted estimate of new houses for sale at the end of November was 197,000. This represents a supply of 8.2 months at the current sales rate.

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