New-home Sales Rise 3.4 Percent to 1.047 Million Pace

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New-home Sales Rise 3.4 Percent to 1.047 Million Pace

Sales of new homes rose 3.5% in November to a seasonally adjusted annual rate of 1.047 million, the Commerce Department reported Wednesday. Sales are now down 15.3% in the past year. October's sales pace was revised to 1.013 million, from an earlier-estimated 1.004 million. The median sales price of a new home rose to $251,700 from $243,800. Economists surveyed by MarketWatch were expecting sales to rise to a seasonally adjusted annual rate of 1.02 million from the previous 1.00 million.

For more information, visit www.marketwatch.com.

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