New home sales declined 11.0% in November to a seasonally adjusted annual rate of 841,000, the U.S. Census Bureau and Department of Housing and Urban Development report.
Year-over-year, new home sales increased 20.8%.
Regionally, new home sales dropped 43.3% in the Midwest, 17.3% in the West, 2.5% in the Northeast and 1.9% in the South.
The median new home sales price for the month was $335,300, with an average price of $390,100.
The estimated number of new homes for sale at the end of November was 286,000, a 4.1 month supply at the current sales rate.
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