Sales of new family homes fell 12 years low in November 2007, greater-than-expected on Wall Street estimates.

November sales drop by 9 percent a seasonally adjusted annual rate from 711,000 in October 2006 to 647,000, according to U.S. Census Bureau and the Department of Housing and Urban Development.

The actual sales in November 2006 were 34.4 percent below the estimate of 987,000 sales, said the Commerce Department.

The median sales price of new houses sold in November 2007 was $239,100 and the average sales price was $293,300.