New-Home Sales Increased Slightly in November – and 2020 Looks Set to be a Big Year for Home Builders
Sales of newly-constructed homes in the U.S. increased 1.3% on a monthly basis in November to a seasonally-adjusted annual rate of 719,000.
While the November sales volume represented a monthly increase, that’s only because the data for October were revised. Previously, the government had said that new-home sales occurred at a 733,000 annual pace, which nearly met the 12-year record set back in June. The small sample size of the new-home sales report from the U.S. Census Bureau lends itself to wide swings and significant revisions, as was also seen back in the September and October data releases.
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