US new home sales rise in November
Sales of new US single-family homes rose in November, according to data from the Commerce Department.
New home sales pushed up 16.9% to a seasonally-adjusted annual rate of 657,000 from a revised rate of 562,000 the month before. Economists had pencilled in a 2.9% increase.
On the year, sales were down 7.7%.
Meanwhile, the median price of a new home was $302,400, down from $325,100 in October.
The figures also showed that the seasonallyâadjusted estimate of new houses for sale at the end of November was 330,000, representing a supply of six months at the current sales rate.