New Home Sales Drop Monthly, Annually

Sales of new one-family houses in November 2009 were down (seasonally adjusted annual rate) This is 11.3% (±11.0%) below the revised October rate, and is off 9.0% (±15.3%)* below the November 2008.

The median sales price of new houses sold in November 2009 was $217,400; the average sales price was $280,300. Current inventory is a 7.9 month supply.

As I have warned many times in the past (see this from 2005), New Home Sales are highly volatile (primarily) self reported data, and subject to significant swings.

>

Charts courtesy of Calculated RIsk

>

Previously:
New Home Sales Data: Don’t rely On Them Either (November 30th, 2005)
http://www.ritholtz.com/blog/2005/11/new-home-sales-data-dont-rely-on-it-either/

Source:
New Home Sales in November 2009
U.S. Census Bureau and the Dept of Housing and Urban Development, December 23 2009
http://www.census.gov/const/newressales.pdf

Print Friendly, PDF & Email

What's been said:

Discussions found on the web:

Read this next.

Posted Under

Uncategorized