New home sales fell sharply in November

By IBTimes Staff Reporter | December 23 2009 11:38 AM

New Home sales in the U.S. fell 11 percent in November compared to October to an annual adjusted rate of 355,000, according to the U.S. Department of Commerce.

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The latest results are 9 percent below the same month a year ago when sales were at a rate of 390,000.

The median price of homes sold in November this year was $217,400, while the average was $280,300.

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