The U.S. Census Bureau and the Department of Housing and Urban Development have released data on new residential sales for November 2024. The sale of new single-family houses reached a seasonally adjusted annual rate of 664,000 units. This figure is 5.9 percent higher than the revised October rate of 627,000 and 8.7 percent above the estimate from November 2023.
In terms of pricing, the median sales price for new homes in November was reported at $402,600, while the average sales price stood at $484,800.
At the end of November, there were an estimated 490,000 new houses available for sale on a seasonally adjusted basis. This represents a supply sufficient to last approximately 8.9 months at the current sales pace.
The next report covering December's data is scheduled for release on January 27, 2025. Additional information and detailed tables are accessible through the Economic Briefing Room.
These statistics are derived from sample surveys and are subject to both sampling variability and nonsampling errors such as bias or variance from response issues. The preliminary data's average relative standard errors are included in the accompanying tables.
Statements like “2.5 percent (±3.2%) above” indicate a range where actual changes likely occurred, based on a 90-percent confidence interval that only accounts for sampling variability. If zero is within this range, it suggests uncertainty about whether an increase or decrease occurred.
New home sales figures may undergo revisions due to survey methodologies that include samples from building permits and prior sales agreements before permit issuance.
The Census Bureau ensures confidentiality through reviewed SOC monthly and quarterly tables with Disclosure Review Board approval number: CBDRBFY24-0281.
Developers can use the Census Bureau’s application programming interface to create custom applications that enhance accessibility to demographic, socio-economic, and housing statistics.
For updates on economic indicators including these statistics, users can download the FRED App available for Apple and Android devices. FRED is managed by the Federal Reserve Bank of St. Louis and now includes data from the Census Bureau’s economic indicators.
