The U.S. Census Bureau said new home sales in November 2018 came in at a seasonally adjusted annual rate of 657,000, crushing the 560,000 consensus forecast.
The forecasts ranged from a low of 535,000 to a high of 581,000, with the actual number coming in way above the high end.
The figure for November is 16.9% higher than the revised October rate of 562,000, but 7.7% below the November 2017 estimate of 712,000.
The median sales price of new houses sold in November 2018 was $302,400. The average sales price was $362,400.
The seasonally‐adjusted estimate of new houses for sale at the end of November was 330,000, representing a supply of 6.0 months at the current sales rate.