Free Republic

Sales of newly constructed homes nationwide increased 5 percent in November from the prevoius month, but were still down 21 percent compared to the same time in 2009. The Commerce Department's release this morning of new home sales for November showed month-over-month increases in the South and the West, but declines in the Northeast and Midwest. Year-over-year sales showed double-digit decreases nationwide. The November measurements bring the seasonally adjusted annual sales rate to 290,000 nationwide, with the majority of those sales _ 165,000 _ being made in the South, a 17-state region that includes Florida. While November's sales are an...

This news may surprise some who heard yesterday that the housing market grew 7% in November, but that was the resale market — which has a key difference in measurement. Resales get calculated when the sales close, where new housing sales get calculated when the deal is made: Sales of new homes plunged unexpectedly last month to the lowest level since April, a sign the housing market recovery will be rocky.

WASHINGTON (MarketWatch) -- Sales of new homes rose 3.5% in November to a seasonally adjusted annual rate of 1.047 million, the Commerce Department reported Wednesday. Sales are now down 15.3% in the past year, the government's data showed. Sales in October were revised higher, to a sales pace of 1.013 million from 1.004 million that had been estimated previously. See the full government report. The median sales price of a new home rose by 3.2%, reaching $251,700.