Sales of newly built, single-family homes edged up 1.6 percent to a seasonally adjusted annual rate of 315,000 units in November, according to newly released figures by the U.S. Commerce Department.¬† This marks the third consecutive monthly gain in new-home sales and the fastest pace of such activity since April.
Original Source – http://www.nahb.org/news_details.aspx?newsID=14444
Regionally, new-home sales were mixed in November. The South and Midwest posted gains of 12.9 percent and 7.5 percent, respectively, while the Northeast and West posted respective declines of 26.3 percent and 16.9 percent.¬†The inventory of new homes for sale fell 1.3 percent to 158,000 units in November. This is a new record low and represents a six-month supply at the current sales pace.