The sale of newly built, single-family homes fell 2.1 percent in November to an adjusted rate of 464,000 units from October's upwardly revised 474,000, according to the U.S. Department of Commerce. Except for October, November had the strongest sales pace since July 2008.
"The previous three months for new-home sales have all been revised up, and the final quarter of 2013 is shaping up to be the best quarter since the second quarter of 2008," said NAHB Chief Economist David Crowe in a statement. "Historically low interest rates, affordable home prices and a healing economy are bringing buyers back into the marketplace."
The median price of new houses sold in November was $270,900, and the average price was $340,300. The estimated supply of new houses for sale was 167,000, representing a 4.3-month supply at the current sales pace.
