December 23, 2009
New Home Sales Down 11%
By Matthew L. Brown
Sales of new single-family houses in November dropped to 11 percent below the October level, according to the U.S. Census Bureau.
Sales reached an annual rate of 355,000 during the month after hitting 400,000 in October. The November level was 9 percent less than the same month a year earlier.
However, the bureau noted that the margin of error on the monthly report was +/- 11 percent.
The median sale price of new homes sold during the month was $217,400. The average sale price was $280,300.
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