New Home Sales figures in the United States rose to a seasonally adjusted annual rate of 315,000 in November in line with market expectations. This is the highest level seen since April. The rise was led by growth in the Southern and Midwest States. The median prices of new homes fell to $214,100 in November. This week also saw release of the existing home sales data that fell below expectations to a seasonally adjusted annual rate of 4.4 million. The building permits and housing starts data this week showed that construction of multi unit apartments is on the rise. The NAHB housing market index which measures home builder confidence rose for the third month in a row to 21. Read more
