UPDATE: New Home Sales Fall 9%, Supply Higher
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UPDATE: New home sales in the US fell 9% to an annual pace of 647,000. This was lower than the analysts forecast of 717,000 homes and was the lowest level since 1995.
Homes for sale dropped 1.8% to 505,000, the lowest in two years, but because of the slower sales pace, the supply of new homes rose from an 8.8 months supply to 9.3 months.
The median sales price of new houses sold in November 2007 was $239,100; the average sales price was $293,300.
Homes for sale dropped 1.8% to 505,000, the lowest in two years, but because of the slower sales pace, the supply of new homes rose from an 8.8 months supply to 9.3 months.
The median sales price of new houses sold in November 2007 was $239,100; the average sales price was $293,300.
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