Sales of New Houses Rose 12.4% in November
The median U.S. sales price of a new home in November was $416,900, up 18.8% from a year earlier, according to a Commerce Department report.
The median U.S. sales price of a new home in November was $416,900, up 18.8% from a year earlier, according to a Commerce Department report.
Sales of existing homes rose 1.9% in November as homebuyers rushed to lock in low interest rates, NAR said in a report.
Homebuilder confidence rose to a 10-month high in December, signaling an expanded supply of new houses available for sale next year.
The median sale price for a home rose to $360,250 during the four-week period ending Dec. 5, a gain of 14% from a year earlier, the report said.
Consumer sentiment rebounded this month from November’s one-decade low, according to a University of Michigan report.
Homeowners are turning to cash-out refinances after a record-setting advance in home values.
The Conference Board’s measure of consumer conficence fell this month as rising Covid-19 infections soured the nation's outlook.
The volume of signed contracts to purchase homes jumped as Americans rushed to secure financing before mortgage rates rose higher.