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May 15, 2025
New Home Sales: Trends in Growth, Affordability, and Inventory
According to the U.S. Census, sales of new single-family homes in November 2024 reached a seasonally adjusted annual rate of 664,000. This marks an 8.7% rise compared to November 2023, when the rate was 611,000. November’s figures align with recent trends showing increased activity in the new home sector.
The median sales price of newly sold homes in November was $402,600, while the average price stood at $484,400. These prices are 8% and 11% lower than October's figures, respectively, and show a similar decline compared to the same month last year. This reflects a slight moderation from the peaks observed earlier in 2024.
New single-family houses for sale reached 493,000 in November, continuing the upward trend observed since the beginning of the year. This growth is largely driven by the sustained increase in the southern region. During the same period, the median time on the market was 2.6 months, compared to 1.5 months in the same month last year.
You can access detailed charts related to new home sales at link
Propbee Economics Team
May 15, 2025
New Home Sales: Trends in Growth, Affordability, and Inventory
According to the U.S. Census, sales of new single-family homes in November 2024 reached a seasonally adjusted annual rate of 664,000. This marks an 8.7% rise compared to November 2023, when the rate was 611,000. November’s figures align with recent trends showing increased activity in the new home sector.
The median sales price of newly sold homes in November was $402,600, while the average price stood at $484,400. These prices are 8% and 11% lower than October's figures, respectively, and show a similar decline compared to the same month last year. This reflects a slight moderation from the peaks observed earlier in 2024.
New single-family houses for sale reached 493,000 in November, continuing the upward trend observed since the beginning of the year. This growth is largely driven by the sustained increase in the southern region. During the same period, the median time on the market was 2.6 months, compared to 1.5 months in the same month last year.
You can access detailed charts related to new home sales at link
Propbee Economics Team
