According to new data from the U.S. Census Bureau and the Department of Housing and Urban Development, sales of new single-family homes rose in November signaling that the housing market is rebounding strongly. November sales of new single-family houses were at a seasonally adjusted annual rate of 592k – which is is 5.2% above October’s rate and is 16.5% than one year ago. The median sales price of new houses sold in November was $305,400; the average sales price was $359,900. The seasonally adjusted estimate of new houses for sale at the end of November was 250k, representing 5.1 months supply at the current sales rate.
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