Home Inventories Continue to Decline
Sales of newly constructed single-family houses increased by 4.4 percent in November, to a seasonally adjusted rate of 377,000 units.
This is a -4.1 percent change from October and 17.5 percent lower than in November 2011 where there were 155,000 homes for sale, a 5.7 month inventory.
In the Northeast sales were at an annual adjusted rate of 27,000 units, up 12.5 percent from October and 68.8 percent higher than one year earlier.
Sales in the South were at an annual rate of 12,000, up 21.1 percent from October and 17.2 percent annually.
The West is on a pace to sell 149,000 homes, down 17.8 percent from the previous month but up 13.7 percent since November 2011.
In the Midwest sales were down 12.5 percent in October to a rate of 49,000 units and the Midwest was the only region where sales lagged behind those of a year earlier, a -5.8 percent change.
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This is a -4.1 percent change from October and 17.5 percent lower than in November 2011 where there were 155,000 homes for sale, a 5.7 month inventory.
In the Northeast sales were at an annual adjusted rate of 27,000 units, up 12.5 percent from October and 68.8 percent higher than one year earlier.
Sales in the South were at an annual rate of 12,000, up 21.1 percent from October and 17.2 percent annually.
The West is on a pace to sell 149,000 homes, down 17.8 percent from the previous month but up 13.7 percent since November 2011.
In the Midwest sales were down 12.5 percent in October to a rate of 49,000 units and the Midwest was the only region where sales lagged behind those of a year earlier, a -5.8 percent change.
Read More.....
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