MNI DATA ANALYSIS: US Nov Home Sales Up 17.5% To 733k SAAR>

--Nov Home Sales Highest Level Since July 2007

--Nov Months' Supply -14.8% To 4.6 Months vs 5.4 Months In Oct  

--New Homes Supply Unchanged At 283,000  

By Sara Haire and Holly Stokes

     WASHINGTON (MNI) - The pace of new single-family home sales 

increased by 17.5% to 733k, the highest level since July 2007. This 

follows a steep downward revision to the sales pace in October and a 

smaller downward revision to September, data released by the Commerce 

Department Friday showed. 

     The sales pace came in well above expectations of 658,000, based on 

an MNI survey of economists. The difference between the expected and the 

actual was 75,000.  

     The supply of new homes for sale was unchaged at 283,000 in 

November. Based on the movements in sales and supply in November, the 

months' supply fell 14.8%, the largest percentage decrease since 

February 1996, to 4.6 months from 5.4 months in October, falling below 

the 5.1 months supply a year ago 

     Despite the supply of new homes stagnating, the median sales price 

saw a 0.3% decline to $ 318,700, but was still up 1.2% from November 

2016. 

     Sales rose in all regions, with the South being the most notable, 

seeing a 14.9% rise to 416k, the highest level since June 2007. Sales 

rose 31.1% in the West to 194k, the highest level seen since July 2007. 

The Northeast saw a considerable 9.5% increase to 46k, and the Midwest 

saw a rise of 6.9% to 77k.    

     New home sales in October were revised down to a 624,000 rate from 

the 685,000 rate previously reported, while September sales were revised 

down to a 635,000 rate from the 645,000 pace previously reported.  

             ** MNI Washington Bureau (202) 371-2121 ** 

[TOPICS: MAUDS$,MT$$$$,M$U$$$,MAUDR$]