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Based on MBA’s data, an estimated 905,000 new single-family homes were sold in November. This seasonally adjusted estimate was an increase of 0.9% from the October rate of 897,000 units. Unadjusted, there were an estimated 65,000 new home sales in November, down 4.4% from 68,000 sales in the previous month.

Kan said that the November estimate is the largest for the month since the survey began in 2012.

“New home sales had a strong month with more homebuyers choosing newly built homes,” he said. “Home sales edged higher over the month to the strongest annual pace since January 2021 at 905,000 units, as limited for-sale inventory has driven more demand to the new home segment.”