Single-family home sales in the United States declined 34.4-percent in the month of November when compared to the same period last year, according to a new joint-report from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development (HUD).
The latest U.S. Census Bureau report says one-family homes sold at a “seasonally-adjusted annual rate of 647,000” in November, down 9-percent from the October rate of 711,000 and well under the 987,000 home sales recorded in November of last year.
In a press statement, the U.S. Census Bureau said, “The median sales price of new houses sold in November of 2007 was $239,100; the average sale price was $293,300. The seasonally-adjusted estimate of new houses for sale at the end of November was 505,000. This represents a supply of 9.3 months at the current sales rate.”
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