</p

On a non-adjusted basis there were anrnestimated 31,000 new homes sold during the month compared to 36,000 sold inrnOctober.  New homes sales year-to-date atrnthe end of November total an estimated 406,500 units.  </p

The median price of a new home sold inrnNovember was $280,900 and the average sales price was $321,800.  In November of 2013 those numbers were $277,100rnand $335,600 respectively.</p

At the end of the reporting period therernwere an estimated 213,000 newly constructed homes for sale nationwide.  At the current rate of absorption the CensusrnBureau and HUD estimate this as a 5.8 month supply.</p

New home sales were down in three of thernfour regions compared to the previous month. rnSales in the Northeast declined12.0 percent from October and werernexactly one-third lower than sales a year earlier.  The Midwest saw a month-over-month drop ofrn6.3 percent but sales were 3.5 percent higher than in November 2013.  The South posted lower sales for both timernperiods, down 6.4 percent and 4.1 percent respectively.  The sole region to improve was the West whichrnposted a 14.8 percent increase in sales compared to October and was up 10.7rnpercent from a year earlier.

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