US new home sales go up

US new home sales go up Washington: There is fresh evidence of a recovery in the US property market, with the Commerce Department reporting Thursday a solid rise in the number of homes sold in November.

Sales of new single-family houses in November increased to a seasonally adjusted annual rate of 377,000 units, up 4.4 percent from October, and 15.3 percent higher than a year ago, reported Xinhua.

Meanwhile, the median sales price of new houses sold in November edged up to USD246,200 from USD237,500 in October.

The seasonally adjusted estimate of new houses for sale at the end of November was 149,000 units, which represented a supply of 4.7 months at the current sales rate.

IANS