New home sales rose in November, showing their strongest pace in more than two years. The Census Bureau reports that sales rose to an annual rate of 377,000 units in November, up 4.4% from October and 15% from a year earlier.
Higher End Homes Selling Again
A surprise in the previous couple of months is a big gain in the number of higher priced homes sold. Sales of homes priced above $750,000 jumped by 50% from a year ago. This pushed the median home selling price up to $180,600, a 10.1 percent increase from November 2011.
New Home Sales Strong
New home sales rose in November, showing their strongest pace in more than two years. The Census Bureau reports that sales rose to an annual rate of 377,000 units in November, up 4.4% from October and 15% from a year earlier.
Higher End Homes Selling Again
A surprise in the previous couple of months is a big gain in the number of higher priced homes sold. Sales of homes priced above $750,000 jumped by 50% from a year ago. This pushed the median home selling price up to $180,600, a 10.1 percent increase from November 2011.