(Census Bureau) The US posted a 12.4% jump in sales of new single-family houses in November, which climbed to an annual rate of 744,000. The sales were lower than the projected 770,000.
The November sales are now at the highest in seven months but remain 14.0% below the prior year.
Costs remained a challenge for new buyers, with houses selling at a median price of $416,900, up 18.8% year over year. The average sales price was $481,700.
In November, 402,000 new homes were in the market, an increase from 392,000 the previous month.
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