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New home sales in the US at 3-month high

New home sales in the USA increased by 5.8 percent month-on-month to 640 thousand in November, rising contrary to market expectations and reaching the highest level in 3 months.

New home sales in the US at 3-month high

The US Department of Commerce announced new home sales statistics for November.

Accordingly, new house sales in the country, seasonally adjusted, increased by 5.8 percent compared to the previous month and reached 640 thousand in November.

Market expectations were that new home sales would decrease by 4.7 percent in this period to 600 thousand.

Contrary to expectations, new house sales, which increased to the highest level in 3 months, increased by 8.2 percent in October to 605 thousand.

New house sales decreased by 15.3 percent in November compared to the same month of the previous year.

The median selling price of new homes that went on sale in the US last month, on the other hand, increased by 9.5 percent compared to the previous year and increased to $471,200.

Analysts said that new home sales increased unexpectedly despite high housing prices and mortgage (home loan) interest rates.

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