New Home Sales Increase to 640,000 Annual Rate in November

The Census Bureau reports New Home Sales in November were at a seasonally adjusted annual rate (SAAR) of 640 thousand.

Sales of new single‐family houses in November 2022 were at a seasonally adjusted annual rate of 640,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 5.8 percent above the revised October rate of 605,000, but is 15.3 percent below the November 2021 estimate of 756,000.

There are 1.2 months of completed supply.

The inventory of new homes under construction is at 5.5 months.

And about 2.0 months of potential inventory have not been started.